The television assembly plant near St. Petersburg that produced Philips, Sony, and Sharp TVs has suspended operations due to increasing sanctions pressure and component shortages, Russian media Meduza reported on November 7.
TPV Technology, a Hong Kong-based company, ceased assembly at its Shushary plant in the Leningrad region at the end of October, according to sources in the electronics industry.
A source revealed that the shutdown was prompted by pressure from US and EU regulators, along with mounting difficulties in securing component payments through China.
Although TPV Technology’s Russian office declined to comment, the company’s service department confirmed that production at the Shushary facility had been suspended.
TPV plans to liquidate its remaining inventory and components in Russia.
The TPV Technology plant, in operation since 2011, produced up to 3.5 million televisions annually under brands including Philips, Sony, Sharp, and Panasonic, as well as AOC and Infomir TV boxes.
According to open sources, 5.24 million TVs were sold in Russia in the first nine months of 2024.
Open sources also show that Philips held about 1.8% of the Russian TV market, with Sony and Sharp capturing less than 1%.
After major Korean brands LG and Samsung which commanded over 60% of the market left Russia, Philips was expected to take a leading position.
-e49035a087a1e7cbd9decf45fa34970c.jpg)
