Due to sanctions, the production of Philips and Sony televisions has halted in Russia.

A television factory near St. Petersburg, which produced TVs for Philips, Sony, and Sharp, has ceased operations due to increasing sanctions pressure and a shortage of components, reported the Russian media Meduza on November 7.

According to sources in the electronics industry, Hong Kong-based TPV Technology halted assembly at its plant in Shushary, Leningrad region, at the end of October.

The reason for this was the pressure from US and EU regulators, as well as growing difficulties in making payments for components through China.

While the Russian office of TPV Technology declined to comment, the company's service department confirmed that production at the Shushary plant has been stopped.

TPV plans to sell off the remaining stock of products and components in Russia.

The TPV Technology plant, operational since 2011, produced up to 3.5 million TVs annually under brands such as Philips, Sony, Sharp, and Panasonic, as well as TV boxes from AOC and Infomir.

According to open sources, 5.24 million TVs were sold in Russia during the first nine months of 2024.

Open sources also indicate that Philips holds about 1.8% of the Russian TV market, while Sony and Sharp account for less than 1% each.

After the exit of major South Korean brands LG and Samsung, which accounted for over 60% of the market, it was expected that Philips would become the market leader.