The 32-year-old was walking down Flat Street in Sheffield when he was threatened and had his phone stolen by two men at around 11.40pm.
It was reported that the two men were armed with a knife and what is thought to have been a gun.
The 32-year-old was not hurt in the incident.
Terrified neighbours reported seeing armed police flood the street shortly after the incident with a police helicopter spotted overhead.
Kareen Rhone, 18 and Steven Mills, 18, both of Lancing Road, Sheffield have been charged with one count of robbery following the incident on Thursday, March 8.
The men have since been remanded into custody until their next appearance before Court on 3 April.