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Samsung Electronics suspends deliveries to Russia due to the Ukrainian crisis

Samsung has suspended shipments to Russia due to “geopolitical developments,” the company said Saturday, as major firms including Apple cut ties with the country over its incursion into Ukraine.

The South Korean tech giant is the world’s largest manufacturer of memory chips and Russia’s leading smartphone retailer.

“Due to current geopolitical events, deliveries to Russia have been suspended,” Samsung said in a statement.

“We continue to actively monitor this complex situation to determine our next steps.”

The decision comes at a time when Western governments, sports organizations and big companies have cut off and sanctioned Russia for an internationally condemned attack on its neighbor.

According to Bloomberg News, Samsung controls just over 30 percent of Russia’s smartphone market share, representing four percent of the tech giant’s total global smartphone revenue.

Sales of semiconductors in Russia, in turn, brought less than 0.1% of Samsung’s profit, Hana Financial Investment said in a report.

South Korea, a key US security ally, also announced this week that it would block financial transactions with major Russian banks and their subsidiaries that are subject to US sanctions.

Samsung is also donating $6 million (roughly Rs. 45.8 crore), including $1 million (roughly Rs. 7.6 crore) for consumer electronics, as well as voluntary employee donations, to “strongly support humanitarian efforts” and refugees in the region. . said.

For more information on the latest Nokia, Samsung, Lenovo and other products showcased at Mobile World Congress Barcelona, ​​visit our MWC 2022.

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