Despite pulling its operations from the Russian market following pressure from sanctions imposed by the US, sales of Lenovo laptop and PC devices are still booming in the country.
A report from analyst firm Marvel reports a 3% year-on-year increase on the sale of Lenovo computers in Russia in the first half of 2022, with 95,000 unit sakes helping it to become the country’s number one supplier in the first half of 2022.
In second place was HP, selling a total of 80,000 units, representing a drop of 93%.
Computer companies in Russia
The news isn’t so bleak for Russian firm Aquarius, which has seen a sizeable boom in sales as many other suppliers choose to leave the market.
In an interview with Vedomosti (opens in new tab), head of Aquarius Vladimir Stepanov said that the company’s “revenue [had] increased by 215% [over three quarters of 2022]”, seeing sales total more than 61,000 units as more buyers are being forced to buy domestic.
With Lenovo formally departing the country in May 2022 and HP following shortly after in June, it’s likely that their sales figures are set to decrease drastically as we head into the second half of 2022, giving Aquarius and other home-growns an even greater boost.
Marvel analysts explains to Vedomosti that predicting Q3 2022 results could be challenging, as there are multiple factors to bear in mind. One on hand is the decrease in business activity, but on the other hand is the availability of cheaper graphics cards.
The effects of Russia’s invasion of Ukraine are not limited to the sale of hardware. Software companies like Google and Microsoft have also suspended sales in the country, as have payment technologies like Visa and Mastercard.