OREANDA-NEWS  The incomes of Russian structures of foreign manufacturers of household appliances and electronics have sharply decreased. This is reported by Kommersant with reference to the companies' reports for 2022.

According to the SPARK-Interfax information service, Samsung Electronics Rus Kaluga LLC, a subsidiary of South Korean Samsung, which produced televisions, monitors and washing machines, showed revenue of 27.4 billion rubles last year with a net loss of 6.9 billion rubles. In 2021, the company reported revenue of 69.5 billion rubles and net profit of 4.6 billion rubles.

Sales of LG Electronics Rus LLC (LG) for the same period decreased by more than half — from 119.7 to 55.4 billion rubles, and net profit fell from 7.1 billion to 376 million rubles. The income of the company LLC "BSH Household Appliances", which produced refrigerators, washing machines and built-in kitchen appliances under the Bosch brand, decreased from 49.7 to 19.5 billion rubles, but the company was able to reduce losses by more than 50 percent — from 2.7 to 1.2 billion rubles.

Industry experts explain the deterioration of financial results by the reduction or complete cessation of sales and production of machinery at factories in Russia. According to the Kommersant source, some companies continue to export products to the CIS countries, but a number of firms in neighboring countries also have production sites — for example, a Samsung factory in Uzbekistan. Additional difficulties for companies are created by consumer lawsuits due to the inability to exchange defective equipment. According to the interlocutor of the publication, Russian retailers are not ready to assume the obligations of manufacturers under the warranty.