Vendor says the decision will have little impact on financial earnings for the year
Nokia has confirmed it will exit the Russian market due to the ongoing invasion of Ukraine.
The Finnish vendor revealed in a statement today (April 12) that it has suspended deliveries, stopped new business and moved its R and D activities out of the country.
Nokia’s imminent exit from the Russian market, isn’t expected to impact on its financial outlook, the company confirmed.
The Russian market accounted for less than two per cent of Nokia’s net sales during 2021.
In a statement Nokia said: “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.”