A new report by Burga shows that Apple might lose at least $3 million in iPhone sales revenue daily or $1.14 billion annually as it announced to pull out from the Russian market in the wake of Ukraine invasion.
Burga, a Lithuania-based online shopping portal, estimated that the amount is based on Apple`s latest recorded Russian market share and the company`s revenue from sales as of 2021.
“Apple`s exit in Russia puts a close to the rocky relationship between the two entities. Notably, Russia has in the past enacted questionable policies for companies like Apple to comply with.
“Apple had only recently adhered with a government mandate to open offices in Russia to offer online services there,” said the report.
Although Russia does not account for a significant revenue share for Apple products, the tech giant`s exit will likely leave a mark on its smartphone sales that have been growing in the country.
