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