LG and Samsung eye cautious return as Russian market shifts
LG and Samsung plan to return to Russia once the sanctions have been lifted. Both companies are keeping an eye on the situation, although the market is currently dominated by Chinese competitors. This information was reported by "The Korea Times."
The South Korean technology giants, LG and Samsung, are considering a return to the Russian market after the lifting of sanctions. According to "The Korea Times," this decision relies on the progress of negotiations between Russia and the USA.
Cho Ju Wan, the CEO of LG Electronics, emphasised that the company remains cautious because the conflict is ongoing.
The return will not be easy
The return of LG and Samsung to Russia will be challenging. Chinese companies, such as Xiaomi, have taken the lead in the market, with a 21 per cent share, while Apple holds 29 per cent. Samsung, although still in third place, faces increasing competition.
The 30 per cent rise in Samsung's marketing expenditures in the first months of the year indicates an intensification of efforts.
New initiatives from LG
LG is not only planning a return to Russia but is also developing new projects. In September 2024, the company filed an application for the registration of the OHUI cosmetic brand with Rospatent.
This demonstrates that LG is seeking new growth opportunities despite the challenging circumstances in the Russian market. Both companies are closely monitoring the situation to take appropriate action.
