The Russian manufacturer of smartphones Yota Devices has found a partner to enter the Chinese market, as reported by Russian business daily Kommersant. The new partner, Potevio, is one of the largest local distributors of mobile electronics.
Over the next 18 months, Yota Devices expects to supply some 1 million units of its YotaPhone 2 smartphone to China, which accounts for one-fifth of the world’s total supply of smartphones (240 million units).
Yota Devices note that this is “one of the largest transactions for the supply of Russian high-tech equipment in the field of consumer electronics to China in history.” Under the terms of the contract, Potevio will also provide marketing support to YotaPhone 2 across the country. The pricing for the YotaPhone 2 has not been revealed, with the Russian firm suggesting it will be comparable to European levels (€699), according to Kommersant.
The first owner of the YotaPhone 2 in China has become the country’s de facto leader Xi Jinping, receiving the smartphone as a gift from Russian President Vladimir Putin, says Potevio.
The YotaPhone was introduced in 2013 as Russia’s first 4G smartphone following two years of R&D efforts involving both Russian and foreign players. Its most touted attraction is a dual-screen that includes includes a low-energy, black and white e-paper display – a technology which is usually seen on e-book readers such as Amazon’s Kindle.
Yota Devices introduced YotaPhone 2 in December 2014, with sales launched in Russia and 20 countries in Europe, the Middle East and Asia. In addition to China, in the near future YotaPhone 2 will appear in Indonesia, Latin America and North America.
Yota Devices was founded in 2011. In addition to smartphones, the company produces modems and routers. Shareholders in Yota Devices include the Telconet fund of Sergei Adonev and Albert Avdolyan (74.9%) and Rostec (25.1%), according to Kommersant. The company’s headquarters is located in Moscow, with offices in Russia, Finland, Germany and Singapore (and soon to open in Canada, China and the USA).
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