Smartphone users increased
The fast expansion of global smartphones market had a massive surge in Mongolia's IT industry as 3G data usage grew by 51 percent, year.
The fast expansion of global smartphones market had a massive surge in Mongolia's IT industry as 3G data usage grew by 51 percent, year, according to the Communications Regulatory Commission of Mongolia (CRC). The CRC has recently released the 2017 key indicators of telecommunication sector and the report shows that a number of active mobile users reached 3.9 million in 2017, a 12 percent growth compared to the previous year. Experts expect mobile services to grow faster as they envisage the economy to pick up in 2018-19, highlighting that mobile services have expanded in Mongolia even during economic difficulties. Over the years, several innovative models emerged in Mongolia, such as financial service app LendMN and UBCab taxi service. As a developing country, the app market in Mongolia is fairly young, but commercial banks’ engagement in fintech apps provide favorable payment infrastructure.
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