ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon PrintIcon Twitter
Business

Japanese telecom KDDI enjoys growth in crisis-battered Mongolia

Country's young population shrugs off IMF bailout and snaps up smartphones

A Mongolian performer, right, takes a selfie with her smartphone before a shortened version of a Naadam festival, a traditional Mongolian cultural and sporting event in Ulaanbaatar, Mongolia.

TOKYO -- Mongolia's economic crisis of of the past two years has proved one thing: smartphones sell even during a downturn.

The East Asian country has few industries other than farming and mining, but it already has mobile phone subscribers in excess of its population of 3 million. The growth continued even during the fiscal crunch that had reduced the country's growth rate to just 1.2% in 2016.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more