Samsung Electronics said today that considering the current geopolitical development situation, the company’s product shipments to Russia have been suspended.
A growing number of companies, from Apple to Microsoft, have stopped selling products and services in Russia after Russia launched a special military campaign against Ukraine last week.
Samsung said in an emailed statement that it is actively monitoring the development of this complex situation. Samsung has suspended all exports to Russia, from chips to smartphones and consumer electronics, people familiar with the matter said.
Our thoughts are with all those affected. Our priority is to ensure the safety of all employees and their families, Samsung said. Samsung also said it would donate $6 million to Ukrainian humanitarian efforts, including $1 million in consumer electronics.
Samsung currently leads the Russian smartphone market with a market share of just over 30%, with Russian smartphone sales accounting for 4% of its global smartphone revenue.
Samsung’s semiconductor sales in Russia accounted for less than 0.1% of its total semiconductor revenue, according to a report released by Hana Financial Investment. In addition, Samsung has a TV production plant in Kaluga, Russia.