Having seen it’s share value drop by -88% in only two years and with 1,200 stores and 30,000 employees nationwide, Russia’s second largest seller of consumer electronics has announced an abrupt change in business model after 31 years in operation.

in reaction to collapsing Russian mobile phone sales, Russia’s “M Video” chain has announced they will now begin buying, refurbishing and selling Apple, Samsung, Honor, Huawei, OPPO, Realme, Tecno mobile phones, adjusting to the new economic landscape.

Like many other Russian businesses once heavily reliant on consumer credit, “M Video” has seen its core sales volume vanish in the 2022-2024 war economy and its relentless central bank interest rate hikes, and with more rate rises on the way, things likely won’t be getting better any time soon.