Report: Samsung expects to return to Russian market this year

Report: Samsung expects to return to Russian market this year

An employee using his mobile phone walks past the logo of Samsung Electronics at its office building in Seoul August 26, 2017. — Reuters pic

Thursday, 15 Sep 2022 7:29 AM MYT

MOSCOW, Sept 15 — Samsung Electronics Co Ltd expects to return to the Russian market this year, six months after suspending shipments in the wake of the invasion of Ukraine, Russia’s Izvestia newspaper said on Wednesday.

Izvestia cited a source close to the company as saying sales could start in October. The source said Samsung would resume supplies of equipment to retailers and restart its official online store.

Samsung froze shipments in early March citing “current geopolitical developments.” The firm was the leading supplier of handsets to Russia as of the fourth quarter of 2021, accounting for 30 per cent of the market.

Izvestia said a Samsung spokesperson had declined to comment on the firm’s possible return to the Russia market. — Reuters