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Ukrainian war, Nokia leaves Russian market

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Nokia also leaves the Russian market. The Finnish multinational, through a note, announced that it had made the decision as “the priority for the company continues to be the safety and well-being of its employees”. As stated in the official statement, the group recalls how “it was clear that, from the first days of the invasion of Ukraine, it would not have been possible to continue with our presence in Russia. In recent weeks – explains Nokia – we have suspended deliveries in the country, the new activities were interrupted and the few research and development activities moved to the territory outside the Russian borders “. “Western governments have expressed concern about the risk of a blockage of communication infrastructures in Russia and have stressed the importance of guaranteeing continuity in the flow of information and access to the Internet. For this – writes Nokia – we leave the country but aim for to provide the support necessary to ensure the functioning of the networks, with the request for the necessary licenses to be able to operate in compliance with the sanctions. This is the most responsible course of action we can take “. As regards the financial impact, Nokia reminds us how “Russia accounted for less than 2% of net sales in 2021. Given the strong demand we see in other regions, we do not expect this decision to affect our ability to meet our 2022 targets. We expect this decision to lead to a provision in the first quarter of approximately € 100 million which will have an impact on our financial data ari, but at the moment not comparable “.

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