MOSCOW, April 9 (RIA Novosti) -- Euroset [RTS: TDEV] said in a statement Monday that its sales in the first quarter of 2007 increased 49%, to $1.3 billion.

In January-March 2007, Russia's largest cell phone retailer sold 3.1 million mobile handsets, up 35% against the same period last year, and 3.1 million SIM cards for cellular operators, down 8%, year-on-year.

By the end of this year's first quarter, the company had 5,156 outlets, including 4,101 in Russia.

Founded in Moscow in 1997, Euroset later entered regional and international markets. It diversified into the non-mobile business by selling foreign-made electronics, including digital cameras, CD and MP3 players. Euroset reported revenues of about $2.2 billion in 2005.