Apple suffers a big loss after leaving Russia
Apple has suffered a big loss as soon as it leaves Russia. The company is losing millions every day. The amount is based on Apple’s latest recorded Russian market share and the company’s revenue from sales by 2021. S
Apple could lose at least 3 million a day, or $1.14 billion annually, in iPhone sales revenue as it announced its exit from the Russian market in the wake of Ukraine’s invasion. According to estimates from Lithuania-based online shopping portal Burga, the amount is based on Apple’s latest recorded Russian market share and the company’s revenue from sales by 2021.
The report said, “Apple’s exit in Russia marks a close to rocky relationship between the two entities. Notably, Russia has in the past made questionable policies for companies like Apple to comply. Apple recently entered Russia.” The government mandate of providing online services there to open the office was followed,”
Apple is in third place
Although Russia does not account for a significant revenue share for Apple products, the tech giant’s exit is likely to leave a mark on the growing smartphone sales in the country. Data submitted by Berg indicates that by vendor, Apple accounts for 15 percent of Russian smartphone sales, ranking third overall.
Samsung is on top
South Korea’s Samsung is at the top with 34 percent and Xiaomi is in third place with 26 percent. The Berg report mentions that Realme holds 8 per cent, followed by Poco at 3 per cent, while other smaller brands hold 14 per cent. Elsewhere, as of 2021, Russia’s smartphone sales stood at 730 billion ($7.6 billion).
Apple’s revenue could be higher, given the steady growth in Russia’s general smartphone sales revenue over the past few years. As of 2020, revenue was $5.93 billion, while in 2019 the figure was $5.2 billion. Overall, between 2014 and 2021, this figure has increased by almost 200 percent. Following Apple’s decision on Russia, the move has put pressure on other brands such as Samsung to stop shipping products in the country.
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