LG followed in Samsung’s footsteps and stopped shipping to Russia
In the announcement, LG Electronics said it was suspending all shipments to Russia and continuing to closely monitor the situation. “We are deeply concerned for everyone’s health and safety, and LG is committed to supporting all humanitarian efforts.”
LG said the above decision was due to disruptions in the world maritime logistics service. Global shipping companies such as Hapag-Lloyd (Germany), Musk (Denmark) and MSC (Switzerland) have stopped shipping to Russia because of sanctions against the country.
| LG factory in Ruza, Russia. (Photo: KoreaTimes) |
In early March, Samsung Electronics announced that all shipments to Russia were suspended due to logistics problems. However, neither LG nor Samsung announced a boycott of the Russian market.
After Russia invaded Ukraine in February, big names like Starbucks, Coca-Cola, Nike, Apple, GM, PayPal, FedEx, Boeing and Tesla all withdrew from the Russian market. According to KoreaTimes, Korean businesses are hesitant to join the boycott wave because of investing large amounts of money in the market and leading in sales. They could lose ground to countries like China. That’s why they chose to suspend deliveries to Russia instead of boycotting them directly.
LG Electronics has a home appliance and TV factory outside of Moscow. The products made here are sold to the Russians and the Commonwealth of Independent States (CIS). Although the factory is still operating, it is difficult to avoid disruption if the shutdown lasts too long and the stock of essential components is exhausted. According to LG Electronics’ business report, its 2021 sales in Russia and the surrounding region are 2.033 trillion won ($1.68 billion).
at Blogtuan.info – Source: cafebiz.vn – Read the original article here
