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China's Xiaomi, Realme, Honor Gained Market Share At Apple's Expense Following US Sanctions On Russia - Here's How

Benzinga · 06/09/2022 13:22
  • 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.