LG also joined the long queue of companies imposing sanctions on Russia and announced that it would suspend the shipments of its products to the country. The decision was made in response to Russia’s invasion of Ukraine.
The company has published a statement on its website, saying, “LG Electronics is suspending all shipments to Russia and will continue to keep a close watch on the situation as it unfolds.”
LG has not yet specified how long the suspension will last and what products it will include. The company has said that it is deeply concerned about the health and safety of people.
So far, a long line of companies, including Apple, Samsung, and Microsoft, has suspended sales of their products in Russia. More and more companies are also blacklisting Russia. With a slight delay, LG finally decided to suspend the shipment of its products to the country.
LG won’t ship products to Russia anymore
LG’s delay in announcing its decision may be justified because the company has left the mobile phone market and focused all its resources on the production of electronics, including TVs and home appliances. Given the size of the Russian market, this decision will definitely have a big impact on LG’s revenue and market share.
However, the withdrawal of LG and Samsung from the Russian market could be good news for Chinese companies. Given the excellent relations between the Chinese and Russian governments, there is now an opportunity for Chinese companies to take over the Russian market.
But in the meantime, perhaps the Russian media, including RT and Sputnik, have suffered the most. So far, these channels have been banned from running ads and monetizing on platforms such as Facebook, Twitter, and YouTube. The European Union also recently asked Google to remove these websites from its search pages.
Moreover, RT and Sputnik are removed from the Roku streaming platform. In response, the Russian government has also blocked access to Twitter, Facebook, and Instagram.
A few days ago, Sony also announced that it would cut Russian access to its entertainment platform. Thus, Russian users can’t watch and listen to the latest movies and music albums on the Sony entertainment platform. We have to wait and see which more companies will announce their withdrawal from the Russian market in the coming weeks.