Apple departed the Russian market in response to its Russia’s invasion into Ukraine, and while the company will suffer a loss in revenue, the damage is likely to be less than it appears.
According to data from Burga, a phone case maker, Apple may lose up to $3 million per day in income as a result of reducing its 15 percent market share. According to ZDNet, stacking the expected daily losses totals around $1.1 billion. Although $1.1 billion may appear to be an insurmountable loss, Apple will likely not feel the impact of it. In Q1 2022, Apple posted sales of $123.9 billion, which was a $40.6 increase over the previous quarter.
Apple’s revenue has grown year after year. There is about a 200 percent growth from 2014’s reported $2.56 billion in income to 2021’s announced $7.6 billion in earnings.
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Apple’s exit from Russia to cost $1 billion dollars: It is not just iPhone
Apple is not only pulling its physical goods; it’s also restricting services like Apple Pay and region locking RT News and Sputnik News to Russia, therefore they will not be accessible from other locations. The company also temporarily canceled its live incident reports on Apple Maps as a precautionary measure.
Even with limiting its services and sales in the Russian market, Apple is positioned to win. The fact is that—although it will suffer a small deficit—Apple will be credited with a considerable amount of trust by the worldwide community for standing up for firms like Nike, Microsoft, EA, and others.
This good faith may result in enhanced brand loyalty and the acquisition of new consumers who have been hesitant to buy Apple.
