Samsung Electronics, the world’s largest producer of computer chips and smartphones, has halted all shipments to Russia.
“Due to current geopolitical developments, shipments to Russia have been suspended,” the company said in a statement on Saturday. “We continue to actively monitor this complex situation to determine our next steps.”
A spokesperson for Samsung Electronics confirmed to the Financial Times that the decision had been taken as a result of US tech-related export controls announced by Washington last month.
The suspension applies to all Samsung Electronics products, ranging from semiconductors and smartphones to consumer electronics including TVs, printers, and fridges.
The company also announced that it would donate $ 6mn, including $ 1mn in consumer electronics, to support humanitarian assistance efforts in Ukraine.
Samsung leads the Russian market in smartphone sales, with Russian revenues accounting for about 4 percent of the company’s global smartphone revenue.
Taiwan Semiconductor Manufacturing Company, which controls more than half the global market for made-to-order contract chips, has already pledged full compliance with the US export controls.
Meanwhile, Hyundai Motor Company, Korea’s leading carmaker, confirmed on Friday that it had halted production at its plant in St Petersburg, after shipments of key components from South Korea were also suspended.