- China saw a significant market share jump in the Russian smartphone market in May as manufacturers like Apple Inc AAPL and Samsung Electronics Co, Ltd SSNLF paused new sales in the country following its Ukraine invasion, Reuters reports.
- Chinese manufacturers Xiaomi Corp XIACY, Realme, and Honor accounted for 42% of Russia's smartphone sales in May 2022, up from 28% in May 2021.
- Also Read: US Warns China Against Helping Russia In Ukraine War
- Samsung saw 14% of devices sold versus 28% last year. Apple's share dropped to 9% from 12%.
- Russia's smartphone sales were down 26% Y/Y due to Western sanctions and supply chain disruptions. Interestingly, Apple had no stores in Russia and sold via third-party websites and partners/vendors.
- Price Action: AAPL shares traded lower by 1.09% at $146.34 on the last check Thursday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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