According to a report by The Elec, Samsung temporarily halted operations at its TV factory in Kaluga, near Moscow, Russia, in light of the ongoing Russian- Ukrainian war.
The report said the suspension of operations was because Samsung faced obstacles in the supply of important components for TVs such as panels. Not only Samsung, but LG is also evaluating suspending operations at its home appliance and TV factories in Russia.
Samsung Electronics’ main concern is that if the macroeconomic situation persists for a long time, the company’s business strategy will be severely disrupted. Samsung Electronics has previously announced that considering the current geopolitical development, the company’s product shipments to Russia have been suspended.
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.
Research firm Omida predicts that if tensions between Russia and Ukraine persist, Samsung TV shipments could be reduced by 10% to 50%. Samsung Electronics plans to make up for the decline in shipments in these markets by targeting other markets