Nokia is leaving the Russian market
Finnish telecommunications equipment maker Nokia is leaving the Russian market, according to the company's website. The decision comes as Russia launches military operations in Ukraine.
"In recent weeks, we have stopped deliveries, suspended new businesses and are moving limited research work outside of Russia. Now we can announce that we are leaving the Russian market", the report said.
Pekka Lundmark, the company’s chief executive, told Reuters the company “does not see any way to continue [business] in the country in the current circumstances”.
The company says that despite leaving the market, Nokia intends to maintain the network and apply for the necessary licenses to ensure that its activities comply with the imposed sanctions.