Pekka Lundmark, the company’s CEO, told Reuters that the decision to quit Russia was “the only option”.
Hundreds of foreign companies are cutting ties with Russia following its Feb. 24 invasion of Ukraine and after Western sanctions against Moscow. He added that Nokia would continue to support customers during its exit, and it was not possible to say at this stage how long the withdrawal would take.Nokia is applying for the relevant licences to support customers in compliance with current sanctions, the company said in a statement.
The company says it does not expect this decision to impact its 2022 outlook but it would lead to a provision in the first quarter of about 100 million euros .
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