Fintech

China’s Huawei Plans to Leave Russian Market – Novinite

 

Chinese tech giant Huawei plans to leave the Russian market, according to a report by Novinite.com in Bulgaria, which cited Russia’s Izvestia and sources that said the company had “already completely stopped all direct deliveries to the Russian Federation of smartphones, as well as the import of tablets, laptops, TVs and other devices.”

It quoted sources as saying that Huawei stopped selling cellular base stations in the spring, following reports that the Chinese group scaled back operations to avoid Western sanctions imposed on Moscow because of the war in Ukraine and the closure of its official stores at the beginning of June.

The Izvestia report quoted Telecom Daily CEO Dennis Kuskov as saying “Huawei has moved its employees to Kazakhstan and Uzbekistan, and they will definitely not be returning in the near future.” But it noted that “there are at least three ways to import products of departed brands into the country” and that “Huawei does not exclude deliveries to Russia through distributors”.

Read the full report: Novinite.com.

 

NOTE: This report was updated with further details on November 1, 2022.

 

ALSO SEE:

South Korean Economy Slowing, October Exports Fall 5.7%

 

Shanghai Disneyland Hit by Covid, Foxconn Quadruples Pay

 

Jim Pollard

Jim Pollard is an Australian journalist based in Thailand since 1999. He worked for News Ltd papers in Sydney, Perth, London and Melbourne before travelling through SE Asia in the late 90s. He was a senior editor at The Nation for 17+ years and has a family in Bangkok.

Recent Posts

China Services Activity Jumps in January as Covid Curbs End

China's dropping of travel curbs resurrected services activity in January for the first time in five…

1 hour ago

China to Build Antarctica Ground Stations for Ocean Satellites

The China Aerospace Science and Technology Group is to build the $6.53 million stations amid…

15 hours ago

China Battery Firm CATL Seen Eyeing $5bn Swiss Listing Boost

The global depositary receipts listing could even see CATL raise $8 billion if market conditions…

17 hours ago

Xpeng Secures Key Permit to Launch ‘Flying Car’ – TechCrunch

The 'special flight permit' from the Civil Aviation Administration of China will allow the Xpeng…

20 hours ago

Paris Club Seen Giving Sri Lanka Support for IMF Bailout

The Paris Club of creditor nations is ready to provide financing assurances for Sri Lanka,…

20 hours ago

China Needs Tech Self-Reliance to Avoid Being Strangled: Xi – SCMP

President Xi Jinping warned this week that China must speed up moves to become self-reliant…

21 hours ago