Russian modem developer Yota Devices has launched its first smartphone on Wednesday, hoping its novel double-sided screen will allow it to break into markets in Europe and the Middle East and gain share from rivals.

Oil-rich Russia is a major market for foreign handset makers such as Apple and Samsung Electronics, but it has so far not been successful in designing handsets.

Moscow-based Yota Devices plans to sell the phone in 20 countries next year after making its 2013 debut in Russia, Austria, France, Germany and Spain.

"If we really hit the mark, we'll be happy because in two to three years everyone will be copying us," said Yota Device's Chief Executive Vlad Martynov, referring to the success of Apple's iPhones since their launch in 2007. He currently has no plans to launch in the competitive U.S. market.

Analysts were skeptical, predicting it will struggle to emulate the success of Apple's iPhone or Samsung's Galaxy smartphone.

"In people's minds Yota Devices is a no-name company, it's not Samsung or Nokia or Apple, which all have their fans. No one will be expecting a YotaPhone," said Denis Kuskov, analyst at research firm TelecomDaily.

"At best, the sales will be limited to several tens of thousands in 2014. The company is focused on developing one model and big production costs clearly won't be covered."

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