Nokia exiting Russian market
Nokia has just announced that the company will be exiting the Russian market completely. Other networking providers are also announcing the same manoeuvre, as well as Huawei which many expected to say in the market.
The company has already stopped the shipments and halted all new business deals, and now will be moving their limited R&D out of the country too. The cause is the invasion of Ukraine and Nokia is solidarizing with the situation. However, there is a concern of critical networking equipment failing in the following months. Since the goal is to continue the flow of information in Russia and enable Internet access for the Russian citizens, Nokia will be supporting the maintenance of the critical equipment.
Nokia also stated that this move won’t be impacting the company strongly since Russian market deals account for less than 2% of the net sales in 2021, and the loss will be set with the strong demand Nokia is seeing in other markets.
This decision will definitely affect all the licensees of the Nokia brand and of course Nokia Mobile. If you check the official Nokia web store in Russia, you’ll find the note that the page is currently unavailable due to maintenance.
