Buffalo-Strong-A-Community-United-658x90.jpg

Actions

Nokia halts new business in Russia

Robocalls 010220
Posted at 1:40 PM, Apr 12, 2022
and last updated 2022-04-12 13:41:59-04

Cellphone provider Nokia said it is no longer conducting new business in Russia as it joins a growing list of Western companies to stop doing business in the country.

Nokia said continuing its presence in Russia would “not be possible” as Russia continues its war against Ukraine.

“For humanitarian reasons, Western governments have expressed concerns about the risk of critical telecommunication network infrastructure in Russia failing,” Nokia said. “They have also emphasized 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.”

Nokia said it has stopped deliveries to Russia and is moving out its research and development.

The company said the Russian market accounts for less than 2% of its net sales. Nokia said with strong demand in other regions, it is not expecting the decision to impact its financial outlook for the year.