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Samsung Undecided about Resuming Shipments to Russia 

UTC by Tolu Ajiboye · 3 min read
Samsung Undecided about Resuming Shipments to Russia 
Photo: Depositphotos

According to Samsung, it is still weighing a decision on resuming operations in Russia amid reports it was committed.

Samsung says it is still yet to make a decision amid reports that the multinational manufacturing conglomerate is returning to Russia. On Thursday, the Korean electronics giant however suggested that it has not ruled out returning to Russia. September makes it six months since Samsung suspended operations in the country.

Samsung Remains Non-committal on Possible Russia Return 6 Months after Pulling Out

In late March, Samsung suspended its businesses in Russia following the latter’s military invasion of neighboring Ukraine. At the time, Samsung ceased the shipment of products to Russia, citing “current geopolitical developments”. In addition, the electronics giant also donated $6 million in aid to besieged Ukraine. However, a recent Russian newspaper report suggested that the Korean multinational will restart official online sales channels in Russia this October. At the moment, Samsung is non-committal regarding resuming shipping to Russian retailers and relaunching its online store.

Samsung Launches New Galaxy Z Phone Duo

In other news, Samsung launched a new set of Galaxy Z phones last month in a bid to wrest more market control from Apple. The Korean company also released enhanced versions of its Galaxy smartwatches in addition to the new smartphones.

Of the new Galaxy smartphone duo, the Z Flip 4 is the smaller version, with a manufacturer’s suggested retail price of $999.99. The Galaxy Z Flip 4 is designed as a pocketable square with a 6.7-inch screen. Meanwhile, Samsung’s Galaxy Z Fold 4 is the physically larger of the set and opens up to reveal a 7.6-inch screen. This variant retails for $1,799.99.

Both phones are reportedly designed to be tough, with stronger aluminum frames making them more resistant to scratches and drops. Furthermore, Samsung looks to use its new releases to gain some leverage ahead of its heated rivalry with Apple. The latest phone releases from the American multinational appear set to go on sale as from tomorrow September 16th.

Samsung to Launch Crypto Exchange Next Year

Samsung also seems to be making great strides regarding its involvement in the world of digital currencies and blockchain. It was also reported in August that the Korean electronic powerhouse seeks to establish a crypto exchange in its native country by 2023. The report also claims that Samsung and its subsidiaries had been trying to enter the blockchain and security tokens space for a while now. However, Samsung may have had trouble finding the employees required to structure a crypto exchange company.

Samsung On Course to Produce New Eco-friendly Mining Chips

Samsung also looks to produce eco-friendly mining chips, according to a July report. These mining chips will come with enhanced performance capabilities of up to 45% more energy efficiency. Touching on the new chips at the time of the announcement, Samsung’s President of Foundry Business, Dr. Siyoung Choi, stated:

“We will continue active innovation in competitive technology development and build processes that help expedite achieving maturity of technology.”

Samsung’s proposed mining solution would likely help relevant industries that require its services and are going ‘greener.’

Business News, Market News, Mobile, News, Technology News
Tolu Ajiboye
Author Tolu Ajiboye

Tolu is a cryptocurrency and blockchain enthusiast based in Lagos. He likes to demystify crypto stories to the bare basics so that anyone anywhere can understand without too much background knowledge. When he's not neck-deep in crypto stories, Tolu enjoys music, loves to sing and is an avid movie lover.

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