Apple’s exit in Russia could cost the company a lot. The company may lose more than one billion dollars a day.
new Delhi. The war between Russia and Ukraine (Russia Ukraine War) is still going on. The world is angry with Russia for attacking Ukraine. Even if countries are not directly helping Ukraine, companies are protesting by imposing sanctions on Russia.
lose at least $3 million in iPhone sales revenue every day, or $1.14 billion annually, as it pulled out of the Russian market in the wake of Ukraine’s invasion. has announced.
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.
“Apple’s exit in Russia draws close to the rocky relationship between the two entities,” the report said. In particular, Russia has in the past made questionable policies for companies like Apple to comply with. Apple recently opened an office in Russia to comply with a government mandate to provide online services there.
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 growing smartphone sales in the country.
Apple accounts for 15 percent of Russian smartphone sales
. Data presented by Berg indicate that based on vendor, Apple accounts for 15 percent of Russian smartphone sales, ranking third overall. South Korea’s Samsung is at the top with 34 per cent and Xiaomi is at the third position with 26 per cent.
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.
That’s so Apple’s revenue
Apple’s revenue could be higher given the steady growth in Russia’s general smartphone sales earnings over the past few years. As of 2020, revenue was $5.93 billion, compared to $5.2 billion in 2019. Overall, between 2014 and 2021, this figure has increased by almost 200 percent. Following Apple’s decision on Russia, there has been pressure on other brands such as Samsung to stop shipping products in the country.