PRESS: Aquarius to invest 3 bln rbl in telecom equipment devt

MOSCOW, Jul 17 (PRIME) -- Russian electronics manufacturer Aquarius will invest 3 billion rubles in development and production of telecommunications equipment that the consumers now purchase mainly from abroad under parallel import, business daily Kommersant reported on Monday.

Aquarius is looking for personnel for its new division that will create and launch a line of telecommunications equipment.

A company representative said that Aquarius sees demand in the segment and plans to expand the business. The company will hire about 100 employees.

The country’s market of telecommunications equipment increased by 1.7% in 2022 to 2 trillion rubles, Cnews reported earlier quoting data of NeoAnalytics.

(90.1190 rubles – U.S. $1)

End