Samsung Electronics Suspends Shipments to Russia Amid Ukraine Disaster

Samsung has suspended shipments to Russia over “geopolitical developments”, the agency mentioned Saturday, as main corporations together with Apple reduce ties with the nation over its invasion of Ukraine.

The South Korean tech big is the world’s greatest reminiscence chip maker and the main smartphone vendor in Russia.

“Attributable to present geopolitical developments, shipments to Russia have been suspended,” Samsung mentioned in a press release.

“We proceed to actively monitor this complicated state of affairs to find out our subsequent steps.”

The choice comes as Western governments, sporting organisations and large firms reduce Russia off and deal it punishing sanctions over the internationally condemned assault on its neighbour.

Samsung controls simply above 30 % of the smartphone market share in Russia, in accordance with Bloomberg Information — 4 % of the tech big’s whole international smartphone revenues.

Gross sales of semiconductors in Russia, in flip, accounted for lower than 0.1 % of Samsung’s income, in accordance with a report by Hana Monetary Funding.

South Korea, a key US safety ally, additionally this week introduced it will block monetary transactions with main Russian banks and their subsidiaries topic to US sanctions.

Samsung can be donating $6 million (roughly Rs. 45.8 crore), together with $1 million (roughly Rs. 7.6 crore) in shopper electronics in addition to voluntary donations from workers, to “actively assist humanitarian efforts” and refugees within the area, the agency mentioned.