The turbulent environment that occurs within emerging markets creates a very specific environment for market knowledge learning. Current literature has focused mainly on market knowledge learning's impact on firm performance in developed markets. This paper focuses on market knowledge learning in emerging markets. The study examined multinational telecommunication organisations that provide mobile services in Pakistan. The relationships between various components of market knowledge learning and firm performance are investigated. The findings suggest that new knowledge acquisition, sense-making of acquired knowledge, and the subsequent implementation contributes to organisational knowledge and positively impacts firm performance. This study contributes to the debate on the differences in market knowledge learning in developed and emerging markets.