- Kyle Chua
Samsung Reportedly Returning to Russian Market After Six-Month Absence
Samsung is said to be returning to Russia this year, six months after it froze product shipments in the country amid the invasion of Ukraine.
According to Russia's Izvestia newspaper (via Reuters), the South Korean tech giant could start sales again as early as October this year. This includes resuming supplies of equipment to retailers and restarting the company's online store, claims a source close to the matter.
Samsung pulled out of the Russian market in March, suspending shipments of smartphones, semiconductors and other consumer electronics, due to "current geopolitical developments".
“Our thoughts are with everyone who has been impacted and our priority is to ensure the safety of all our employees and their families," the company said then. "We plan to actively support humanitarian efforts around the region, including aid for refugees.”
Samsung was among the many companies that decided to stop business operations in Russia to show support for Ukraine. Apple also announced it was pulling out of the Russian market a week prior to Samsung. The iPhone maker, however, has yet to announce its return.
Despite these companies halting business operations, Russia may still have access to some of their products by way of parallel imports. This is a mechanism in which goods are imported without the consent or approval of the manufacturer or copyright holder.
The Russian government has already passed a special federal law that would protect Russian companies engaging in parallel imports. It has also approved a list of goods that will be included in the imports, covering about 100 different product categories. Among the brands whose products will be imported are Apple, Samsung, Sony, HP and Intel, to name a few examples.
Samsung led the smartphone market in Russia during the fourth quarter of 2021, holding close to 30% of the market share. Izvestia claims a Samsung spokesperson declined to comment on the company's return to Russia.
Samsung is reportedly returning to Russia this year, six months after it froze product shipments in the country amid the invasion of Ukraine.
The South Korean tech giant could start sales again as early as October this year.
The company backed out of the Russian market in March, suspending shipments due to "current geopolitical developments".