Nokia announces Russia exit

22/04/2022

Nokia is halting its activities in the Russian market following the country’s invasion of Ukraine.

Speaking of the decision, a spokesperson for the company said: “It has been clear for Nokia since the early days of the invasion of Ukraine that continuing our presence in Russia would not be possible. Over the last weeks we have suspended deliveries, stopped new business and are moving our limited R&D activities out of Russia.

“We can now announce we will exit the Russian market. During this process our priority continues to be the safety and wellbeing of our employees.”

The spokesperson continued: “For humanitarian reasons, Western governments have expressed concerns about the risk of critical telecommunication network infrastructure in Russia failing. They have also emphasised the importance of ensuring the continued flow of information and access to the internet which provides outside perspectives to the Russian people.

“Therefore, as we exit, we will aim to provide the necessary support to maintain the networks and are applying for the relevant licenses to enable this support in compliance with current sanctions.”

According to a statement released by Nokia, the decision will have little financial impact on the company, with Russian business representing no more than two per cent of its sales in 2021.

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