Finnish telecommunications company Nokia announced on Tuesday that it is withdrawing from the Russian market due to the war with Ukraine. and sanctions imposed by the European Union (EU).

Nokia, which has suspended the supply of mobile network equipment to Russia in the past weeks, said in a statement: stopped new business development and moved research and development (R&D) activities out of the country.

“We can now declare that we are leaving the Russian market. In this process, our priority is the safety and health of our employees.

Again, Nokia will continue to provide the necessary support to maintain existing networks “in accordance with current sanctions” to ensure the flow of information and internet access that brings external perspectives to the Russian people..

“This is the most responsible action Nokia should take when exiting the Russian market,” the company said.

According to Nokia, Its turnover in Russia accounted for less than 2% of its total sales of €22,202 million ($24,132 million) in 2021.therefore it is confident that this decision will not affect its financial forecasts for this year.

However, some of the costs of his departure from Russia €100 million ($108 million) in first quarter accountsAlthough e states that this will not affect their comparable results (except for outstanding items).

Nokia’s announcement comes a day after its main European rival, the Swedish company. Ericsson also announced to the public that its activities in Russia were suspended indefinitely. for the same reasons.

(with information from EFE)