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Samsung says no decision after report it was returning to Russia




By: Reuters, September 15, 2022

Sept 15 (Reuters) – Samsung Electronics Co Ltd (005930.KS) said on Thursday nothing had been decided after a newspaper reported the company was expected to return to the Russian market this year, six months after suspending shipments following the invasion of Ukraine.

Russian newspaper Izvestia on Wednesday 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% of the market.