Ericsson and Nokia suspend operations in Russia

Swedish network equipment supplier Ericsson is withdrawing from Russia until further notice due to the Ukraine war.

The company already had all deliveries to customers in Russia at the end of February suspended.

As a result of the withdrawal, Ericsson is setting aside a provision of 87 million euros in the first quarter.

Ericsson has about 600 employees in Russia. They are sent on paid leave.

The Swedes are a major supplier to Russia’s leading mobile operator MTS and the fourth largest provider, Tele2.

Finnish Nokia is also withdrawing from the Russian market, the CEO told Reuters† The company will continue to support customers during the exit.

Hundreds of foreign companies have cut ties with Russia after the invasion of Ukraine on Feb. 24.

Source: Nieuws – Emerce by

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