Nokia Announces It Is Exiting Russian Market
Tuesday, May 03, 2022 | Comments

Nokia announced that it is exiting the Russian market in response to Russia’s ongoing invasion of Ukraine.

The vendor said that over the past several weeks, it has begun suspending delivering, stopping new business and moving the few research and development (R&D) activities it has in the country.

“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,” Nokia said in a statement. “We can now announce we will exit the Russian market. During this process, our priority continues to be the safety and well-being of our employees.”

Nokia said that with its withdrawal, it is following guidelines from other governments around the world.

“For humanitarian reasons, Western governments have expressed concerns about the risk of critical telecommunication network infrastructure in Russia failing,” the statement said. “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. This is the most responsible course of action for Nokia to take as we exit the Russian market.”

Nokia said that Russia accounted for less than 2% of its net sales in 2021. The company said it does not expect its withdrawal from the Russian market to impact its 2022 financial outlook.

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