The South Korean tech behemoth is the world’s largest memory chip manufacturer and Russia’s top smartphone seller.
“Due to current geopolitical developments, shipments to Russia have been suspended,” Samsung said in a statement.
“We continue to actively monitor this complex.
The decision comes after Western governments, athletic groups, and major corporations broke ties with Russia and imposed penalties in response to the universally criticized attack on its neighbor.
According to Bloomberg News, Samsung holds little over 30% of the smartphone market share in Russia, accounting for 4% of the tech giant’s total worldwide smartphone revenues.
According to a report by Hana Financial Investment, semiconductor sales in Russia contributed to less than 0.1 percent of Samsung Electronics’ profitability.
This week, South Korea, a key US security partner, stated that it would restrict financial dealings with large Russian banks and their subsidiaries that are subject to US sanctions.
Samsung is also providing $6 million to “actively support humanitarian efforts” and refugees in the region, including $1 million in consumer electronics and voluntary donations from workers, according to the company.























