Yandex Loses Russian Market Share to Google, Vedomosti Reports

Yandex NV, a Russian Internet search engine, lost market share last year to Google Inc. (GOOG), which is expanding in the country through its Google+ social network and the Android platform for smart phones, Vedomosti said, citing a report by VTB Capital and industry statistics.

Yandex’s market share fell 4 percent points last year to 60.6 percent, while Google boosted its presence to 25.5 percent, Vedomosti said.

To contact the reporter on this story: Ilya Khrennikov in Moscow at ikhrennikov@bloomberg.net

To contact the editor responsible for this story: John Viljoen at jviljoen@bloomberg.net

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