In 2022, Yandex became the leader in the number of smart home gadgets sold

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Russian tech giant Yandex has almost doubled its sales of consumer electronics to become the leader of the segment in 2022. The company’s market share was 13.2%, with over 2.5 million devices sold for RUB20.1bn ($270m). The reason for the strong growth was attributed to the departure of foreign vendors as well as the increasing sales of speakers with a voice assistant. Smart speakers with virtual assistants were the most popular devices, accounting for over 75% of Yandex’s sales by volume. Experts have said that if the categories of smartphones and tablets were included, Xiaomi would be the market leader.

In 2022, Yandex became the leader in the number of smart home gadgets sold

Against the background of the withdrawal of foreign vendors from the Russian market in 2022, “Yandex” almost doubled the sales of consumer electronics and became the leader in the segment for the first time. The company’s share of the market was 13.2% in units, and a total of 2.5 million devices were sold for 20.1 billion rubles, writes “Vidomosti” with reference to business analyst F+tech Marvel Anton Fomin.

In 2021, when the company sold 1.4 million gadgets worth 9.8 billion rubles, the share was 7.3%. The total volume of the electronics needs segment in 2022 was 283.3 billion rubles.

To this segment F + tech | Marvel” includes 15 product categories: TVs, TV set-top boxes, home audio systems, Bluetooth speakers, game consoles, digital cameras, video cameras, drones, car multimedia systems and others. According to the company, “Yandex” managed to occupy a dominant share in the segment, although its products are presented in only three categories: home audio systems, televisions and car navigation.

A representative of “Yandex” confirmed the sales data. He also added that the company has plans to expand the list of Yandex-branded devices, but declined to reveal details about the projects.

In second place in terms of unit sales after Yandex in 2022 was the South Korean Samsung, whose market share decreased year-on-year from 10.1 to 4.4%, in third place was another Korean brand, LG (down from 7, 3 to 4.2%). In fourth place is the American JBL (down from 7 to 4.1%), in fifth place is the Chinese brand Mi (one of Xiaomi’s sub-brands), which, on the contrary, increased its share from 2.7 to 3.7%.

In terms of money, the list of market leaders turned out to be different: the first place was taken by Samsung with a share of 16.1%, the second – LG (14.4%), the third – “Yandex” (7.1%), the top 5 Chinese brands Haier (6 ), 6%) and Mi (5.6%).

In addition to the departure of foreign vendors, the reason for the growth of Yandex’s share in the market was the increase in sales of speakers with a voice assistant, noted Fomin. In 2021, the company’s speakers accounted for 65.8% of sales in the money category and 75.1% in pieces. In 2022, the share of speakers was already at the level of 79% in money and 81% in pieces.

According to experts, in other categories of devices, the share of Yandex is noticeably lower. In the car navigation category, the company’s products accounted for 3.5% of sales in units and 3.4% in money in 2022, and in the category of televisions – 0.35% in units and 0.36% in money.

Smart speakers with virtual assistants, the sales of which in 2022 amounted to 3 million units, portable speakers (1.3 million units) and external TV set-top boxes (850,000 units) are the largest categories in the Russian market among audio, video and Hi-Fi equipment in artificial sales.

According to the representative of M.video-Eldorado, Russian companies, including Yandex, VK and Sber, are actively increasing their presence in the segment of smart speakers and TV set-top boxes. In general, more than 95% of sales in the speaker category fell on the devices of ecosystem Russian companies, the interlocutor noted.

Positive dynamics in these categories are facilitated by a stable situation with the assortment, the appearance of novelties, as well as the popularization of ecosystems and voice assistants of these brands, added the representative of M.video-Eldorado. The popularity of smart TVs is growing, and every tenth purchased TV had voice assistants and content platforms from Russian developers: Yandex or Sber, he added.

Representatives of Ozon, Yandex.Market and Wildberries did not answer the question about the share of sales of Yandex devices in the consumer electronics segment in 2022. The interlocutor from Wildberries clarified only that Russian and Asian brands became the leaders in terms of demand in the segment. Vedomosti also sent a request to Citilink.

Yandex’s dominant share in the consumer electronics market is explained primarily by the brand’s leading position in the segment of smart speakers, experts agree. But, according to them, the categories chosen for analysis raise questions.

“Sales data seem relevant, but it is not entirely logical to combine these categories for analysis,” says Telecom Daily CEO Denys Kuskov. “Speakers are cheaper and are bought much more actively than, for example, televisions.” If the analysts included the categories of tablets and smartphones in the sample, the leader in the segment could be Xiaomi, which last year displaced Samsung and Apple in the Russian market, the expert added.

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