China’s smartphone makers chip away at Samsung, Apple’s Russian market share

A gentleman makes use of a smartphone on an embankment of the Neva River in Saint Petersburg, Russia April 24, 2022. REUTERS/Anton Vaganov

June 9 (Reuters) – China’s sector share in the Russian smartphone sector jumped considerably in Might as brands like Apple and Samsung (005930.KS) paused new profits in Russia and Western sanctions weighed on the Russian economic climate.

Chinese producers Xiaomi (1810.HK), Realme and Honor accounted for 42% of Russia’s smartphone sales in May well 2022, in accordance to details from cellular community MTS shared with Reuters, – up from 28% all through the exact thirty day period previous 12 months.

South Korea’s Samsung shed its spot as the current market leader, with 14% of devices bought versus 28% last 12 months, and Apple’s share dropped to 9% from 12%.

In general smartphone revenue were down 26% yr-on-12 months, MTS reported, as Western sanctions and source chain disruptions have severely hit Russia’s client financial system.

Apple and Samsung stopped new solution gross sales in Russia immediately after Moscow sent its army into Ukraine in late February, but shops have been capable to use up present stocks.

The Kremlin has also moved to allow for Russian businesses to ship in some goods, which includes smartphones, without the need of the license holder’s permission in a so-named “parallel imports” plan.

Reporting by Reuters

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