After the invasion of Ukraine by Russia, sanctions came from dozens of technology giants, especially Apple. It is gradually becoming clear what kind of consequences these companies will have in terms of income from leaving the Russian market.
The latest report prepared by Burga, the Lithuania-based shopping portal, reveals the giant crisis to be experienced on the Apple front. If Apple continues its sales policies in this way, it has to accept more than $1 billion in annual revenue loss.
Apple’s Russian revenues can reach billions of dollars
Apple, which withdraws from the Russian market after the invasion of Ukraine, will face a great loss. According to the latest research by analysts, the iPhone could suffer a loss of $3 million a day or $1.14 billion a year in sales revenue.
Burga’s calculations are based on Apple’s sales in the Russian market and the company’s revenue as of 2021. Although Russia does not create a significant revenue share for Apple products, the departure of the technology giant from Russia means that it will surpass the increasing smartphone sales in the country.
As of 2021, Russia’s smartphone sales were at $7.6 billion. The data presented by Burga showed that Apple accounts for 15 percent of Russian smartphone sales and ranks third overall. Samsung took the top spot with 34 percent, while Xiaomi took the third place with 26 percent.
According to the Burga report, Realme has an 8 percent share, while Poco is right behind it with 3 percent. In addition, the total share of other small smartphone manufacturers is 14 percent.
Apple’s loss of revenue, given that Russia’s smartphone sales revenue has increased remarkably over the past few years. may increase further. As of 2020, revenue was $5.93 billion, while in 2019 it was $5.2 billion. Apple’s revenue grew by almost 200 percent between 2014 and 2021.
“The resulting separation of two manufacturers (Apple and Samsung) is an opportunity for Chinese companies to grow. However, these companies may be subject to sanctions using US-based technologies (for example, the Android operating system), which could prevent them from operating in Russia.”
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