LG may move production from Russia to Uzbekistan or Kazakhstan

Tashkent, The Gulf Observer: The South Korean company for the production of LG equipment may close a plant in the Moscow region and transfer production to Uzbekistan or Kazakhstan, the source of the Kommersant publication in the household appliances market reports.

LG is negotiating in Uzbekistan with Artel, which produces Samsung equipment. Since 1998, the company has not had a plant in Kazakhstan. 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 does not comment on the situation.

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