Russia is facing a huge backlash from all the major tech giants and political parties around the world. If recent news is to be believed then Samsung has terminated all product sales in Russia amidst war. What’s shocking is that Samsung has taken this step despite being the leading smartphone seller in Russia.
Samsung has stopped shipping to Russia because of “geopolitical developments,” the company said on Saturday. Apple and other big companies have cut ties with the country because of its invasion of Ukraine, and now Samsung is following suit.
The South Korean tech company makes the most memory chips in the world and sells the most smartphones in Russia.
Also Read: After Apple, Google Has Paused All Advertisements in Russia – Here’s the complete details!!
The company said in a statement: “Due to the current geopolitical situation, shipments to Russia have been put on hold.” Microsoft halts new sales of products and services in Russia.
“We are still closely watching this complicated situation to figure out what we should do next.”
The decision comes after Western governments, sports organizations, and big businesses cut off and punish Russia for the attack on its neighbor.
Samsung has about 30% of the smartphone market share in Russia, according to Bloomberg News. That’s about 4% of the tech company’s total global smartphone sales.
Facebook has been blocked in Russia because it doesn’t allow state-backed channels to show.
People who work for Hana Financial Investment said that sales of semiconductors in Russia only made up less than 0.1% of Samsung’s profits.
Also this week, South Korea said it would stop financial transactions with major Russian banks and their subsidiaries that the US has banned. To help “humanitarian efforts” and “refugees,” Samsung is giving $6 million, which includes $1 million in consumer electronics and donations from employees, the company said.
That’s all for now. Stay tuned for more updates!!