Euroset exits Kyrgyzstan

Euroset, the leading mobile phone retailer in Russia, has sold its business in Kyrgyzstan, the company’s CEO Alexander Malis revealed. Euroset was badly affected by the economic crisis and its revenues in the core Russian market plummeted by 30% in 2009. The retailer withdrew from Armenia and Moldova at the end of the last year. Currently it operates only in Russia, Ukraine and Kazakhstan. The company earned revenue of RUB14.078 billion (USD475 million) in Q1 2010.