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Samsung will donate $6 million to Ukraine after ceasing to ship products to Russia.


SEOUL, March 5 (Korea Bizwire) – Shipments to Russia have been halted, according to Samsung Electronics (005930.KS), "because to current geopolitical developments."

In a statement, the business added, "We continue to constantly monitor this difficult situation to determine our next measures."

According to data source Counterpoint, Samsung Electronics is the market leader in cellphones in Russia, with a 30 percent market share, ahead of Xiaomi with 23 percent and Apple (AAPL.O) with 13 percent.

As a result of sanctions and worldwide criticism for its invasion of Ukraine, companies such as Apple (AAPL.O), Nike, and IKEA have halted sales, distanced themselves, or ceased operations in Russia. Changes in shipping routes are another element to consider.

According to Counterpoint, Chinese companies contributed 44% of the Russian handset market in 2021, but have remained relatively mute about their business in Russia, since Beijing has refrained from criticising Moscow for its invasion of Ukraine.

Samsung is also providing $6 million, including $1 million in consumer electronics and employee donations, to fund humanitarian operations "across the region," including refugee aid, according to the company.


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