Ukraine invasion: Russian consumers rush to snap up Chinese smartphone stocks as the rouble's value sinks

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Russians are buying everything before their currency depreciates further 💸

But international sanctions on exporting hi-tech products to Russia, including payment and logistics restriction, have created a big challenge for Chinese technology companies that want to keep doing business in the country amid the ongoing war in Ukraine.relying on yuan payments to maintain its operationsCounterpoint's Lam, however, indicated difficulties with the yuan payment strategy.

Semiconductors and other crucial components of smartphones are mainly supplied by companies in the US, South Korea and Japan, which all use US dollars to settle international transactions. Lam said major Chinese brands like Xiaomi, Huawei, Oppo, and Vivo must also consider if the risks of doing business in Russia far outweigh their ambition to expand sales in western Europe, where many people are protesting against the war in Ukraine.by continuing to supply chips to Russia.

 

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