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Samsung

Samsung

Industry: 
Conglomerate
Value of USG Contracts: 
476
Symbol: 
LSE:SMSN
Country: 
South Korea
Sources: 

“Iranian telecommunications minister Mahmoud Vaezi has criticized Samsung for cutting the access to Samsung's mobile app store for Iranian users, ISNA reported on March 16. Mahmoud Vaezi said Samsung should resolve the problem as soon as possible. Representative of Samsung in Iran has pledged to resume the service as of April 6, 2014, Vaezi added. Iranian device users lost access to Samsung's mobile app store as of May 22, 2013. The Korean electronics giant said that it couldn't provide access to the store because of 'legal barriers'. Many sanctions have been imposed on Iran over its nuclear program, and Samsung's step is viewed as the latest such measure. Unlike Apple, Microsoft and Adobe, Samsung provided localized services to Iranians in Persian language. It also isn't the first handset vendor to pull back from Iran. Nokia stopped its services in the country last year. On June 9, 2013, the Tasnim News Agency quoted Tehran Chamber of Commerce member Mohammad-Hossein Barkhordar as saying that Samsung will lift ban on Iranian users to access app store sooner or later. Samsung took the decision in order to show off in the international arena, but it retreated from the decision and found out that it was wrong, Barkhordar said.” (Trend, “Iranian telecom minister criticizes Samsung,” 3/16/14)

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"But its population of about 75 million includes a sizeable urban middle class who have been avid consumers of foreign-made goods, including Samsung and Sony electronics and Peugeot cars." (Reuters, "Iran says it will cut imports of non-essential goods," 10/15/2012)

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"After being hit by European and U.S. sanctions, Iran's oil sales are stabilizing as the country entices buyers with attractive prices and a form of barter. But proposed new U.S. restrictions could further bite into its crude exports later this year . . . A form of barter set up by Iran provides an incentive to keep—or in the case of Seoul, to resume—its crude purchases. Faced with banking sanctions that impede its ability to receive crude proceeds and settle its bills for imported goods, the Islamic Republic increasingly gets paid into accounts based in the Asian countries where it sells the oil and in their local currency. Iranian traders then draw on the reserves to purchase goods exported to Iran. South Korean products are ubiquitous in Tehran—from smartphones made by Samsung Electronics Co. Ltd. to LG Electronics Inc. televisions and even costume dramas on local televisions; Iranian imports from the country amounted to $6 billion last year." (Wall Street Journal, "Iran Barters and Bargains to Help Oil Sales," 8/7/12)

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"South Korea has imposed curbs on exports to Iran - mainly steel, cars and electronics - to reduce its risk of payment defaults as western sanctions disrupt Iranian oil exports, highlighting the growing risk of doing business with the Islamic Republic. The move to limit the trade exposure of Asia's fourth-largest economy, which sold $1.7 billion of goods in Iran in the first quarter of this year, was announced by South Korea's leading trade and business body and came into effect this week…Export quotas could be imposed on products including Samsung Electronics' mobile phones and Hyundai Motor's vehicles, a source has told Reuters."  (Reuters, "South Korea limits Iran exports on payment concerns," 6/14/12)

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"Export quotas could be imposed on products including Samsung Electronics' mobile phones and Hyundai Motor's vehicles, one of the sources said... Samsung Electronics and LG Electronics accounted for a combined 30 percent of Iran's mobile phone market, Korean major newspaper Dong-a Ilbo reported in January." (Reuters, "South Korea may limit exports to Iran on payment concerns: sources," 5/17/2012)

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"Samsung, an electronics giant, markets its products in Iran, according to its website."  From 2000-2009, the company received $476.4 million US federal funds.  Their activities in Iran are currently active.  (The New York Times, "Profiting from Iran, and the US," 3/6/2010)

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"Nestle has been the target of protests by Islamists since the Gaza onslaught began, some Iranian websites said. It is among a small number of foreign companies which have factories in Iran, which notably also includes French automaker Renault. Others, such as South Korean group Samsung, market their products in the Islamic republic. Some, particularly in the oil and gas sector, have operated in the country for some time, such as Frances Total and Anglo-Dutch Shell." (Agence France Presse, "Iran to punish firms trading with Israel," 1/12/09)

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"GIANTS WITH A FOOT IN TEHRAN: Total, Shell, Statoil, BNP Paribas, Commerzbank, MTN, UPS, Linde, Technip, Nokia, Ericsson, Peugeot, Renault, OMV, Societe Generale, ENI, Mitsubishi, Sumitomo, Siemens, LG, Samsung, Bosch, Valeo, Nestle, Unilever, BAT, Japan Tobacco." (The London Times, "American pressure threatens UK firms," 5/27/06)

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