Nokia pulling out of Russian market
Telecommunication company Nokia announced Tuesday that it will pull out of the Russian market, noting that its “priority continues to be the safety and well-being of our employees.”
“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,” the company wrote in a statement. “Over the last weeks we have suspended deliveries, stopped new business and are moving our limited R&D activities out of Russia.”
Nokia is one of the hundreds of companies that have cut ties with Russia after it began invading Ukraine in late February. Western leaders also issued sanctions against Russian officials and companies.
Nokia said that Western leaders “expressed concerns” about “the risk of critical telecommunication network infrastructure in Russia failing,” and have highlighted the “importance of ensuring the continued flow of information and access to the internet which provides outside perspectives to the Russian people.”
The company said that it will provide “necessary support” to maintain the networks to alleviate those concerns, noting that it will be “in compliance with current sanctions.”
“This is the most responsible course of action for Nokia to take as we exit the Russian market.”
CEO Pekka Lundmark told Reuters that the company did not see any possibility to continue under the current circumstances in the country.
“A lot would have to change before it will be possible to consider again doing business in the country,” he said.
Lundmark also said about 2,000 Nokia employees would be affected by the withdrawal from Russia, some of whom may be offered positions elsewhere, according to the news service.