Samsung Electronics considering leasing Russia factory

Samsung Electronics is considering leasing its TV factory in Russia, South Korean media reported on Wednesday, after various global companies stopped sales or paused business in Russia since its 2022 invasion of Ukraine.

Samsung is considering leasing its TV and monitor factory in Kaluga, Russia, Yonhap news agency and other media reported on Wednesday.

The reports came after a Kommersant report said on Tuesday that local electronics wholesaler VVP Group is about to produce equipment both under its own brand and for other companies at the Samsung factory, citing unnamed sources in the electronics industry.

Samsung declined comment. VVP Group did not immmediately respond to a request for comment.

Samsung said in March 2022 it had suspended shipments to Russia. MoneyControl