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5 Mar, 2022 08:05

Samsung temporarily suspends shipments to Russia – reports

The tech giant says it’s looking for ways to resume business amid sanctions
Samsung temporarily suspends shipments to Russia – reports

South Korean technology firm Samsung Electronics is temporarily halting shipments of all its products to Russia as the country faces sanctions over the war in Ukraine. However, the company plans to resume its business in the country shortly, media reports on Saturday.

“Due to the current geopolitical developments, shipments to Russia have been suspended,” the statement sent via Samsung’s generic PR email address from an unnamed representative of the company reads, as quoted by Bloomberg.

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

The suspension reportedly includes products ranging from chips to smartphones and consumer electronics.

However, later on Saturday, the company told RIA Novosti that the South Korean tech giant plans to resume its business in Russia in the near future and that its service centers in the country are continuing to work as usual.

“The company will resume operations as usual in the near future. Right now we are working on solutions to resuming our product shipments to Russia. Service centers [in the country] are continuing to provide assistance at full capacity,” a source in the company told the news outlet.

Samsung Electronics, the world’s largest electronics vendor, is Russia’s number one supplier of handsets with a 30% market share, ahead of Xiaomi’s 23% and Apple’s 13%, according to data provider Counterpoint, as cited by Reuters.

For more stories on economy & finance visit RT's business section

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