Samsung stock: Samsung stops deliveries to Russia because of Russia’s invasion of Ukraine

The South Korean group is the market leader in memory chips, smartphones and televisions. In Russia, his crops are in high demand. According to figures from the analysis company IDC, Samsung’s market share for smartphones was 34 percent.

The South Koreans join a string of big tech companies halting supplies to Russia. These include Apple and the chip group Intel.

With Samsung and Apple, the providers of around half of the smartphones sold in Russia are leaving the market. According to IDC figures, Apple’s iPhone had a market share of 16 percent last year. The Chinese supplier Xiaomi was number two in the market with 28 percent.

“In view of the current geopolitical developments, deliveries to Russia have been suspended,” said Samsung Electronics in a statement sent on Saturday. Samsung continues to actively monitor “this complex situation in order to decide our next steps,” it said.

According to Samsung, it also wants to support humanitarian efforts in the affected region, including aid for refugees. The company is donating six million dollars (about 5.5 million euros) for this purpose. One million dollars of this will be donated to consumer electronics products.


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