Despite pulling its operations out of the Russian market after pressure from sanctions imposed by the United States, sales of Lenovo laptops and PC devices are still booming in the country.
A report from analytics firm Marvel reports a 3% year-over-year increase in Lenovo PC sales in Russia in the first half of 2022, with 95,000 units sold helping it 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 is not so gloomy for Russian company Aquarius, which has seen a considerable boom in sales as many other suppliers choose to leave the market.
In an interview with Vedomosti (opens in a new tab)head of Aquarius Vladimir Stepanov said that the company “income [had] increased by 215% [over three quarters of 2022]”, seeing sales total more than 61,000 units as more buyers are forced to buy domestic.
With Lenovo formally leaving the country in May 2022 and HP following soon after in June, it’s likely that their sales figures will drop dramatically as we head into the second half of 2022, giving Aquarius and other homegrown players an even bigger boost.
Mirindal analysts explain to Vedomosti that predicting Q3 2022 results could be difficult, as there are several factors to consider. One at hand is the decline in business activity, but on the other is the availability of cheaper graphics cards.
The effects of Russia’s invasion of Ukraine are not limited to hardware sales. Software companies such as Google and Microsoft have also suspended sales in the country, as have payment technologies such as Visa and Mastercard.