Russia’s Only Domestic TV Maker Declared Bankrupt

Aug. 4, 2026 tvkvant.ru A Moscow court has declared Russia’s only domestic television manufacturer bankrupt, the newspaper Kommersant reported Monday, citing court records. Consumer electronics retailer DNS filed a bankruptcy petition against the manufacturer, Kvant, last June over an unpaid debt of more than 654 million rubles ($8 million). DNS owns the in-house TV and electronics brand Irbis, which Kvant stopped producing last year due to high costs and low demand. Following DNS’s initial petition, 24 additional creditors joined the bankruptcy proceedings against Kvant, the only Russian TV maker registered with the country’s Ministry of Industry and Trade. Court-approved claims have pushed Kvant’s total debt load to 4.15 billion rubles ($51.2 million), with Sberbank and Yandex listed among its largest creditors. Founded in 2016 in the Moscow suburb of Zelenograd, Kvant saw its business model unravel in 2024 when Chinese suppliers TCL and Xiaomi halted component shipments to the Russian plant to avoid secondary sanctions. Kvant’s revenue plummeted from 13.1 billion rubles ($161.7 million) in 2023 to 4.9 billion rubles ($60.5 million) in 2024. Last year, revenues collapsed to just 45 million rubles ($555,000), leaving the company with a net loss of 387 million rubles ($4.7 million) and tens of millions of rubles in unpaid wages owed to workers. Read more about: Business Sign up for our free weekly newsletter Our weekly newsletter contains a hand-picked selection of news, features, analysis and more from The Moscow Times. You will receive it in your mailbox every Friday. Never miss the latest news from Russia. Preview Subscribers agree to the Privacy Policy We sent a confirmation to your email. Please confirm your subscription. A Message from The Moscow Times: Dear readers, We are facing unprecedented challenges. Russia's Prosecutor General's Office has designated The Moscow Times as an "undesirable" organization, criminalizing our work and putting our staff at risk of prosecution. This follows our earlier unjust labeling as a "foreign agent." These actions are direct attempts to silence independent journalism in Russia. The authorities claim our work "discredits the decisions of the Russian leadership." We see things differently: we strive to provide accurate, unbiased reporting on Russia. We, the journalists of The Moscow Times, refuse to be silenced. But to continue our work, we need your help. Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and every contribution makes a significant impact. By supporting The Moscow Times, you're defending open, independent journalism in the face of repression. Thank you for standing with us. Once Monthly Annual Continue Not ready to support today? Remind me later. × Remind me next month Remind me Thank you! Your reminder is set. We will send you one reminder email a month from now. For details on the personal data we collect and how it is used, please see our Privacy Policy. Read more Russian Corporate Losses Surge in 2025 as More Firms Slip Into the Red About 18,400 firms posted losses, or 11% more than the same period of 2024. 2 Min read Russian Firms Plan Price Increases Ahead of Tax Changes – Central Bank Survey Businesses plan to lift prices by an annualized 6.3% over the next three months, up from 4.2% in October and 2.9% in September. 2 Min read Moscow Court Arrests Ex-Skolkovo Technopark Head on Bribery Mediation Charges Renat Batyrov faces up to 12 years in prison if convicted. 1 Min read Russian Companies Face Record Debt Burden as High Rates Squeeze Profits – Think Tank “The burden from interest payments on corporate income is at an extremely high level,” the Kremlin-linked think tank CMASF said. 3 Min read