Exec: Samsung Electronics to keep on localization in Russia

MOSCOW, Mar 25 (PRIME) -- South Korea’s Samsung Electronics will continue localizing its production facilities in Russia and develop cooperation with local partners, Kim Y Tak, president of the company’s CIS headquarters, said Friday.

Russia is one of key markets for the South Korean company, Kim said.

One of the priority directions in Russia in 2016 will be wearable devices, like smartwatches and virtual reality glasses. The market has a huge potential, he said.

The company will focus in 2016 on the idea of a smartphone as the center of a single ecosystem, Kim said.

The level of localization of washing machines reached 50% in December 2015 thanks to supplies of components and raw materials to local partners, he said.

Samsung signed an agreement in 2007 to build a plant to manufacture electronic appliances in the industrial park Vorsino in the Kaluga Region, in the European part of the country. At present, the plant produces all Samsung TV sets, monitors and washing machines sold in Russia.

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