The Finnish telecommunications company Nokia, announced that it will leave the Russian market, and undertook forecasts of 100 million Euros for the first quarter of 2022.
Shortly after the Russian invasion of Ukraine, Nokia announced that it had stopped deliveries to the country, but has now moved out of Russia, as has its competitor Ericsson.
Nokia operates in four regions in Russia, a head office and a separate training center in Moscow and offices in St. Petersburg and Voronezh, but its activities accounted for only 2% of the group’s sales in 2021, so the company maintains its estimates for 2022.
“It was clear to Nokia from the first days of the invasion of Ukraine that it would not be possible for us to continue our presence in Russia,” he said.
“In recent weeks we have suspended deliveries, stopped new operations and moved limited research and development activities outside Russia. We can now announce that we will leave the Russian market,” the company said.
It also said that for humanitarian reasons it would seek to maintain its networks in Russia to ensure the critical telecommunications network infrastructure and the ongoing flow of information to Russian citizens.
Source: Capital
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