- China saw a significant market share jump in the Russian smartphone market in May as manufacturers like Apple Inc (NASDAQ:AAPL) and Samsung Electronics Co, Ltd (OTC:SSNLF) paused new sales in the country following its Ukraine invasion, Reuters reports.
- Chinese manufacturers Xiaomi Corp (OTC: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.
