Monday, 22, April, 2024

The South Korean giant LG may close a plant in the Moscow region and transfer production to Uzbekistan or Kazakhstan, Kommersant publication said referring to its source.

Reportedly, LG is negotiating in Uzbekistan with Artel, which produces Samsung equipment. Its production unit in Kazakhstan has been idle since 1998. According to experts, it will be more profitable to transfer production to Uzbekistan. According to the source, part of the top management has already been moved to Tashkent. Another source says that LG is negotiating with the Kazakh authorities. The company has not commented on the situation.

LG suspended product deliveries to Russia in March. Six months after the invasion of Ukraine, LG's TV market share in Russia has halved, from 21.6% to 10.1%.

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