MOSCOW (Reuters) -Russian resellers unveiled Apple’s new iPhone 17 in stores on Saturday, as major retailer Restore: reported a sharp rise in pre-ordering this year.

Strong demand for Apple smartphones offers a sign that consumer demand for popular products has yet to falter in line with a wider economic slowdown in Russia. The country has seen 20-year-high interest rates and a budget deficit of over 4 trillion roubles this year.

The iPhones’ popularity in Russia has endured Apple halting sales in 2022 and suspending services like Apple Pay in the wake of Western sanctions over the invasion of Ukraine. In Russia, the phones also command higher prices than in Western markets.

“This year we have 66% more preorders than last year,” said Lyudmila Semushina, PR director for Inventive Retail

See Full Page