Nokia withdraws from the Russian market

Finnish telecom giant Nokia has announced it will give up Russian market a day after their rival Ericsson decided to suspend business indefinitely in Russia, paving the way for China’s Huawei to enter this market.

The departure of two Western heavyweights opens the door for Huawei to develop Russia’s telecommunications infrastructure. “We can now announce that we are exiting the Russian market,” said Nokia CEO Pekka Lundmark.

The company also emphasizes the importance of ensuring the constant flow of information and Internet access on Russian soil. “As we leave the Russian market, we will continue to provide the necessary support to maintain the network and are applying for the relevant licenses to enable this support under applicable sanctions.” Nokia said.

Over the past weeks, the company has suspended deliveries of equipment to the Russian market.

Earlier, on April 11, Swedish telecommunications group Ericsson announced that it was suspending all operations in Russia indefinitely due to the Russia-Ukraine conflict. Ericsson stressed that its priority is to focus on the safety and health of its employees in Russia and these employees will receive paid leave.

Since February 24, hundreds of Western companies, from Ikea to Coca-Cola, Goldman Sachs and McDonald’s have stopped operating in Russia.

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