Digital Desk: In response to the invasion of Ukraine, Apple has halted sales of iPhones and all other products in Russia and will cease exports to the nation, the company declared on Tuesday.
This is the most drastic action of a Big Tech corporation to pinch Russia economically. It comes as the US and European governments and a growing list of corporations such as ExxonMobil and Volkswagen have taken steps to isolate Russia as the situation in Ukraine develops.
"It's a shock. This was not something I expected Apple to do. "Gene Munster of Loup Ventures, an investment firm, is an analyst.
According to Munster, Russia accounts for only about 2% of Apple's total revenue. Even yet, for a firm with a yearly global revenue exceeding $365 billion, that's more than $7 billion in sales.
"It's almost unheard of for a corporation to stop selling its products, especially Apple, which doesn't get involved in politics," Munster added.
According to a company representative, besides banning the sale of all Apple devices in Russia, the firm's popular payment option, Apple Pay, is being restricted in the nation.
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