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This paper investigates product innovations efficiency indicators in innovative subsection DL «Manufacture of electrical and optical equipment» at the level of Russian regions. The purpose is to check the hypotheses that high speed of product updates influences on economy of product innovations, growth rate of production value and value added rate. The research showed that most part of Russian regions has very low speed of product updates at subsection DL in the comparison with leading European countries. Correlation analysis of whole Russian regions sample does not confirm advanced hypotheses. Some of the analyzed regions have high speed of product updates. Clustering allows to conclude that these regions also have high economy of product innovations and high growth rate of production value but low value added rate. So the data of leading Russian regions confirm two from three advanced hypotheses. The proposed methodology may be used for the innovation efficiency analysis at other subsections of manufacturing oriented on product innovations.