Samsung Electronics explores leasing factory in Russia

Samsung Electronics’ Russia bet: Samsung Electronics is reportedly exploring the option of leasing its TV factory in Russia, according to South Korean media on Wednesday. 

This consideration follows a trend where several global companies have either halted sales or temporarily halted operations in Russia in response to its 2022 invasion of Ukraine. 

The TV and monitor factory located in Kaluga, Russia, is under consideration for leasing, as per reports from Yonhap news agency and other sources. 

Earlier, a Kommersant report had indicated that local electronics wholesaler VVP Group might start producing equipment at the Samsung factory, both under its own brand and for other companies. 

Samsung has not provided official comments on the matter, and VVP Group is yet to respond to inquiries. 

In March 2022, Samsung had announced the suspension of shipments to Russia.

(With Reuters Inputs)