Nokia announced its withdrawal from Russia

Nokia announced its withdrawal from Russia

“Reversal is a very complex operation. It has required careful planning because we have also had to consider the safety of our employees, ”he said.

Nokia pointed out press release that it has suspended deliveries, closed new business and started its limited research and development activities in Russia in recent weeks.

“We can now announce that we are exiting the Russian market,” it said.

Western governments, the company stressed, have expressed concern about the humanitarian consequences of an uncontrolled exit from the market, citing the risk of failure of critical telecommunications infrastructure and the importance of ensuring access to information and outsiders from Russia.

“Therefore, when we leave, we will strive to provide the necessary support for the maintenance of the networks and will seek the necessary licenses to enable this support in accordance with current sanctions,” the press release says.

Nokia estimates that the exit will not affect its ability to meet the financial guidance it issued in February this year. Russia’s share of the company’s net sales of approximately EUR 22 billion in 2021 was less than two percent.

According to Helsingin Sanomat, the network equipment manufacturer employs about 2,000 people in Russia.

Aleksi Teivainen – HT

Source: The Nordic Page




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