• Samsung mulls leasing Russian TV factory.
• VVP Group eyes Samsung plant for electronics production.
• Aligns with Samsung’s response to geopolitical changes.

In the wake of widespread global business realignments following Russia’s 2022 invasion of Ukraine, South Korean tech giant Samsung Electronics is reportedly contemplating the option of leasing its TV and monitor factory in Kaluga, Russia. The news surfaced on Wednesday through reports from Yonhap news agency and other South Korean media outlets.

According to the reports, Samsung is mulling over the decision to lease its manufacturing facility in Russia as part of the company’s strategic response to the changing geopolitical landscape. This move comes after several international companies have either halted sales or temporarily suspended their operations in Russia.

A report by Kommersant on Tuesday suggested that local electronics wholesaler VVP Group is in discussions to utilize the Samsung factory for producing equipment, both under its own brand and on behalf of other companies. The sources cited in the report, identified as insiders from the electronics industry, hinted at a potential collaboration between Samsung’s facility and VVP Group.

When approached for comments on the matter, Samsung declined to provide any official statement. Additionally, there has been no immediate response from VVP Group regarding the reports.

It’s worth noting that Samsung had previously announced in March 2022 that it had suspended shipments to Russia, aligning with the broader trend of companies reassessing their business engagements in the region.

The exploration of leasing options for its TV and monitor factory in Russia signifies Samsung’s proactive approach to navigate the evolving global business landscape and make strategic decisions in response to geopolitical developments. The move also underscores the broader impact of geopolitical events on multinational corporations and their operational strategies.

Also Read

Netflix’s Q4 Breaks Records with ‘The Crown’ and ‘The Killer

Netflix's Q4: 13.1M new subscribers, driven by hits. Total subscribers: 260M; stock...