Business / Economy

Chinese tech companies gearing up for Russian demand

By Ma Si ( Updated: 2015-10-12 16:17

Experts say Russia will be the next gold mine for China's technology companies.

"Russia's growing demand for smartphones and high-end home appliances will pose great opportunities for Chinese tech companies," said Gong Xiaofeng, a senior official at China Council for the Promotion of International Trade (CCPIT).

To help domestic enterprises better tap into the growing Russia market, CCPIT's electronics sub-council inked a deal Monday with Russia's largest communication exhibition, SVIAZ Expo.

Gong said currently 80 percent of Russia's electronic products are imported from other countries.

"China, as the largest manufacturer of tech gadgets in the world, can play a bigger role in meeting the demand."

Sergey Bednov, general director of Expocenter, the organizer of SVIAZ Expo, agreed. Bednov said, "in 2015, Russia will surpass Japan as the world's fourth-largest smartphone market. The sales are expected to hit 42 million units in 2019 from 26 million in 2014.

"Ordinary Russians are hungering for handsets from China, but now there are not many suppliers there."

According to Bednov, Russia currently boasts 82 million Internet users and 56 percent of them are surfing the Internet through smartphones.

"Though Russia's economy is facing headwinds now, the demand for electronics are rising. We welcome more Chinese tech companies to set foot in Russia," Bednov said.

A source at Chinese smartphone vendor Xiaomi Corp told China Daily, "we are very interested in the Russian market. Local consumers want to have high-performing gadgets at a low price and that's what Xiaomi is most good at."

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