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| Samsung stops shipping products to Russia |
Samsung has stopped shipping products to Russia due to current geopolitical developments, joining a growing list of companies that halted sales and services in the country after the invasion of Ukraine last week.
The export of all Samsung products to Russia, from chips to smartphones to consumer electronics, has been suspended.
The company said in a statement that it is actively monitoring the complex situation to determine the next steps. Our top priority is the safety of all our employees and their families.
The company has donated $6 million to humanitarian efforts in the region. Including 1 million consumer electronics. In addition to voluntary contributions from company employees.
The move meant that Russia was cut off from a wide range of products from one of the world's largest electronics suppliers.
In addition to war concerns, doing business in Russia has become a challenge for offshore companies amid sanctions, a US embargo on transactions with the Russian Central Bank, and a sharp depreciation of the ruble.
Microsoft condemns Russia's irrational and illegal incursion into Ukraine. It suspends all sales of new products and services in Russia.
Apple also stopped selling iPhones and started restricting Apple Pay and other popular products in Russia. It also removed RT News and Sputnik News from third-party app stores.
HP, the largest maker of personal computers in Russia, has stopped exporting to the country, as has Intel.
Samsung has more smartphone market in Russia than Apple
Ahead of Samsung's announcemen, Mikhailo Fedorov, Ukraine's deputy prime minister and chief digital officer, sent a letter to Samsung's vice president urging the South Korean tech giant to temporarily stop providing services and products to Russia.
"We believe that these measures will motivate Russia's youth and activists to pre-emptively stop shameful military aggression," Fedorov said in the letter. "We need your support." New technology in 2022 may be the best response to tanks, rocket launchers and missiles targeting residential areas, kindergartens and hospitals.
Samsung is the leading smartphone vendor in Russia. Its market share is just over 30%.
Smartphone sales in Russia account for about 4% of the company's global device sales. Semiconductor sales accounted for less than 0.1%. The company also has a factory in Russia that produces televisions.
Although South Korea received an exemption from US export controls to Russia, the suspension of shipping lanes and flights into the country made it difficult for South Korean companies to ship products to the region.
Korean Air has announced that it will suspend cargo services to Moscow for two weeks. Shipping company HMM has suspended bookings to and from Saint Petersburg.