Samsung suspends sale & export of smartphones, chips and other products to Russia

Joining the league of other tech companies, Samsung Electronics Co., Ltd. has now also suspended its delivery of product shipments to Russia in view of the ongoing geopolitical developments following its military operations in Ukraine. This came shortly after other tech giants including Microsoft and Apple also halted their sales and services in the country.

As a part of this decision, the company has suspended the export of every Samsung product including smartphones, chips, consumer electronics, and others, reported Bloomberg. 

Issuing a statement regarding the same, the South Korean giant which has been actively monitoring the complex situation said, "Our thoughts are with everyone who has been impacted and our priority is to ensure the safety of all our employees and their families."

Further, in a humanitarian bid towards Ukraine, the company has also donated $6 million followed by $1 million in consumer electronic products.

As Samsung continues to remain the leading smartphone seller in Russia, it has a market share of more than 30%. Also, its smartphone sale in Russia accounts for around 4% of its global smartphone revenue. Apart from that, the company's semiconductor sales account for less than 0.1%, while it also earns from its TV production company in Russia.

Notably, the Korean government after following the developments in Ukraine had earlier said that it would have a limited effect on the economy in the short term but can have long-term tensions resulting in supply disruptions, uncertainty in financial markets, and slow economic growth.

Tech giants target Russia over its military operations in Ukraine

Companies including Microsoft have condemned Russia's 'unjustified and unprovoked' attack on Ukraine and further suspended all the sale and export of products and services in the country. Following the cue, Apple also halted the export of iPhones in Russia and has already started limiting application services and other popular products.

Russian applications have been also removed from its app store. Apart from that, the largest supplier of personal computers, HP Inc and Intel Corp has also stopped its export to Russia. 

Similarly, companies are also tightening their sanctions against Russia as a part of the trade sanctions imposed on Russia. 

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