Nokia is leaving Russia
Nokia has officially announced that it is leaving the Russian market. The company immediately stated that there would be no tangible negative financial consequences from this step.
Towards the end last year (2021), the share of Nokia‘s sales in the Russian Federation was only 2% of the company’s total turnover. There are other regions where there is a high demand for Nokia solutions, so the company will fulfill its revenue plan for 2022.
“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.
“For humanitarian reasons, Western governments have expressed concerns about the risk of critical telecommunication network infrastructure in Russia failing.
“They have also emphasized 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,” Nokia said in a statement.