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English|Chinese Smartphone Brands Set to Take Over 90% of Russian Market

【English|Chinese Smartphone Brands Set to Take Over 90% of Russian Market】English|Chinese Smartphone Brands Set to Take Over 90% of Russian Market
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Image Source: Visual China
Beijing, July 6 (TMTPOST) – Chinese smartphone brands are taking over Russia’s market following the exit of Western cellphone producers, Russian media outlet Kommersant reported.
Kommersant reported that Chinese makers of smartphones, tablets, laptops and even home appliances are filling the void left by their U.S. and South Korean rivals in Russia.
Pundits in Russia believe that Chinese smartphone brands would soon account for 90% of the Russian market. It is reported that Chinese smartphone brands such as Realme, Huawei, Xiaomi, TECNO, Infinix and iTel were the market leaders in the first half of 2022. Statistics show that TECNO, Infinix, Realme and Xiaomi’s sales more than doubled year over year. Meanwhile, Apple and Samsung’s smartphone market share in Russia were down by 14% and 15%, respectively.
In the first half of 2022, over 10 million smartphones were sold in Russia, down by 23% year-on-year. A report from the Russian e-commerce platform Yandex Market shows that the market shares that Chinese electronic products enjoyed doubled in Q1. As Western companies leave Russia, Russian consumers are turning to brands from China and Turkey, as well as local brands.
Alexander Surkov, market analyst at GS Group’s Strategic Marketing Department, said that Xiaomi, Honor and Realme would soon replace Apple and Samsung in Russia in the smartphone industry. Experts in Russia believe that retail chains and big distributors in the country will sign long-term agreements with Chinese brands in the absence of other suppliers in the market, which will further enhance Chinese brands’ status in Russia. Very soon Chinese brands will account for 90% of the market in Russia.
In the first half of 2022, Chinese smartphone makers were having a difficult time in multiple overseas markets while seeing decline in Q1 in their home market. The latest report from market research firm Counterpoint Research shows that global smartphone sales was down 4% to around 96 million units in May 2022 compared with the previous month. This is the second time for global sales volume to be lower than 100 million units in the past decade.

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