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Apple downsizing its office in Moscow

"Nevertheless, the company expects it will be able to continue honoring its obligations," as stated in the document

MOSCOW, April 19. /TASS/. Apple will reduce the area of its office in the Romanov Dvor business center in downtown Moscow from 4,700 sq m to 424 sq m and extend its lease until January 2027, according to notes from the accounting balance sheet and the statement of financial results from Apple Rus, the Russian subsidiary of Apple, posted on the state accounting (financial) statements information resource.

"The value of the lease obligation and the right to use assets was reviewed in the reporting year in connection with the planned change in rental terms in 2023: the area will be reduced from 4,684.38 to 424.23 sq m; the rental period will be extended until January 2027," the document reads.

The fact that Apple stopped selling its products on Russian territory beginning on March 1, 2022 had a material influence on the financial results of Apple Rus.

"Nevertheless, the company expects it will be able to continue honoring its obligations," as stated in the document.

The company will also sell a portion of its inventory used for repairs to a third party service provider to meet maintenance and repair obligations, the report indicates. The vendor’s name is not indicated in the document. TASS has sent a relevant inquiry to Apple's press service.

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