The second-largest mobile phone operator in Russia, Megafon, confirmed it would purchase approximately 750,000 iPhones from Apple by 2016 to resale through its retail network.

Megafon signed an agreement with Apple's Russian subsidiary in January, but has not disclosed the contract terms yet, according to Reuters.

The Russian company has also committed to spend around $28 million on advertising, marketing, and promotion of Apple smartphones over the next three-years.

"Based on MTS' estimates, in the fourth quarter alone around 650,000 iPhones were sold in Russia. If the smartphones sales' dynamics and iPhone's share of this market do not change dramatically, around 8 million iPhones could be sold in Russia during the next three years, and Megafon's share will be just over 9 percent. I would not say it could sell much more than this," said Sergei Libin, an analyst at Raiffeisen Research.

Megafon rival Vimpelcom, which signed a contract with Apple in 2013, declined to comment on the deal.

MTS is currently negotiating a deal with Apple as well.

"At the moment, we are discussing the terms of cooperation that would be acceptable for both sides," MTS' spokesman said this week, according to Reuters.

Apple also sells devices in Russia through electric retailers and its online store.

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