Chinese manufacturers have reduced the supply of smartphones to Russia due to the collapse of the ruble – Rosbalt

The largest Chinese smartphone makers have significantly reduced shipments to Russia due to the collapse of the ruble amid Western sanctions, the Financial Times writes, citing people familiar with the matter.

According to the publication, since the end of February, shipments of smartphones from Chinese companies Xiaomi, Oppo and Huawei to Russia have decreased by at least half. At the same time, the companies did not give the FT any comments on this matter.

As the newspaper notes, Chinese brands account for 60% of the Russian smartphone market, but exports were complicated by the fall of the ruble by more than 35% against the dollar. To compensate for the difference in the exchange rate, companies will have to raise the price, but this will immediately affect the decrease in demand. Also, the sources of the publication added that many Russian distributors have suspended purchases from Chinese manufacturers in order to reduce the risks due to the exchange rate.

Against the background of the military operation of the Russian Federation in Ukraine, many foreign technology manufacturers left the Russian market. In particular, Apple and Samsung announced a halt in the supply and sales of all products in Russia.

Recall, on February 24, Russian President Vladimir Putin made an emergency appeal to the Russians and announced a special military operation in the Donbass. In his speech, he stated that “circumstances require decisive action from Russia” and stressed that “Russia will not allow Ukraine to have nuclear weapons.” In response to Russia’s actions, Western countries (USA, Canada, European Union, Great Britain, Japan) announced new, tougher sanctions against the Russian Federation, including financial and economic ones. Foreign companies began to leave Russia one by one.

You can follow the chronicle of events in connection with the situation in Ukraine here.