Samsung mulls leasing TV, monitor factory in Russia

Samsung has suspended shipments to Russia since March 2022
An undated image of a Samsung building. — Freepik
An undated image of a Samsung building. — Freepik

South Korean company Samsung Electronics is considering options to lease its TV factory in Russia in line with decisions taken by several other global companies which stopped sales or paused business in Russia since its 2022 invasion of Ukraine.

Reuters, citing Yonhap news agency, reported that Samsung is considering leasing its TV and monitor factory in Kaluga, Russia.

The development comes after a Kommersant report, citing sources in the electronic industry, claimed that local electronics wholesaler VVP Group is about to produce equipment both under its own brand and for other companies at the Samsung factory.

It was further learnt that the South Korean company has confirmed that it had suspended shipments to Russia in March 2022.