Posted on Mar 2, 2022
Apple pauses sales in Russia and stops all exports
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https://www.npr.org/2022/03/01/ [login to see] /apple-russia-pauses-sales-stops-exports
Apple has paused the sale of iPhones and all other products inside Russia and will stop exports into the country in response to the invasion of Ukraine, the company announced on Tuesday.
The move represents the most dramatic action a Big Tech company has taken to economically squeeze Russia. It comes as governments in the U.S. and Europe along with a growing list of companies, including ExxonMobil and Volkswagen, have acted to isolate Russia as it escalates its conflict in Ukraine.
"It's shocking. I did not expect Apple to take this step," said analyst Gene Munster of investment firm Loup Ventures.
Munster estimates that Russia represents only about 2% of Apple's global revenue. Still, that is more than $7 billion in sales for the company that has annual global revenue exceeding $365 billion.
"It's pretty unheard of for a company to stop selling its products, especially Apple, which is not one to weigh into political affairs," Munster said.
In addition to halting the sale of all Apple products inside of Russia, the company's popular payment service, Apple Pay, is being limited in the country, according to a company spokesman.
Apple has paused the sale of iPhones and all other products inside Russia and will stop exports into the country in response to the invasion of Ukraine, the company announced on Tuesday.
The move represents the most dramatic action a Big Tech company has taken to economically squeeze Russia. It comes as governments in the U.S. and Europe along with a growing list of companies, including ExxonMobil and Volkswagen, have acted to isolate Russia as it escalates its conflict in Ukraine.
"It's shocking. I did not expect Apple to take this step," said analyst Gene Munster of investment firm Loup Ventures.
Munster estimates that Russia represents only about 2% of Apple's global revenue. Still, that is more than $7 billion in sales for the company that has annual global revenue exceeding $365 billion.
"It's pretty unheard of for a company to stop selling its products, especially Apple, which is not one to weigh into political affairs," Munster said.
In addition to halting the sale of all Apple products inside of Russia, the company's popular payment service, Apple Pay, is being limited in the country, according to a company spokesman.
Apple pauses sales in Russia and stops all exports
Posted from npr.org
Apple
iPhone
Russia
Ukraine
Business
Posted >1 y ago
Responses: 3
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With the Ruble at less than 1cent no one there could afford them anyway
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Article mentions that RT and Sputnik apps are no longer available in the app store. Different articles mention that Apple Pay no longer works in Russia for financial transaction.
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This is just simbolic window dressing. I doubt that this efects Apple's bottom line much.
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