The telecom equipment giant Nokia Corporation is the latest one to join the slew of companies pulling out of the Russian market amid the country’s invasion of Ukraine.
The company in a press statement said it is expecting no financial impact from the decision as Russia accounted for less than 2 percent of its net sales in 2021.
“It has been clear for Nokia since the early days of the invasion of Ukraine that continuing our presence in Russia would not be possible. Over the last weeks we have suspended deliveries, stopped new business and are moving our limited R&D activities out of Russia,” it said.
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