STOCKHOLM: Telecoms equipment maker Nokia is pulling out of the Russian market, its CEO told Reuters, going a step further than rival Ericsson , which said on Monday it was indefinitely suspending its business in the country.
"We just simply do not see any possibilities to continue in the country under the current circumstances," CEO Pekka Lundmark said in an interview. Both Nokia and Ericsson made a low single-digit percentage of sales in Russia, where Chinese companies such as Huawei and ZTE have a bigger share.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more: