The Finnish manufacturer has formally announced its exit from the Russian market, given that most of the equipment sold is not smartphones for individual use, but telecommunications equipment used mainly in the field of infrastructure. Just a day ago, rival Ericsson had announced the country’s indefinite suspension of operations.
The provider of mobile telecommunications network equipment has announced the suspension of equipment deliveries in Russia since the beginning of March, the news of the total exit from this market appearing rather in a formal announcement.
This decision will lead to a guarantee of 100 million euros in Nokia’s accounts for the first quarter, the group said. Russia accounted for “less than 2%” of Nokia’s revenue in 2021, with the Finnish company reiterating its financial forecasts for 2022 “due to strong anticipated demand from other regions”.
On Monday, Swedish rival Ericsson announced that it was suspending its activities in Russia indefinitely, with the 600 employees immediately going on paid leave.