The famous phone brand from Finland, Nokia will officially close its operations while the competitor from Sweden, Ericsson, will gradually exit the Russian market by next year.
It is understood that Ericsson will slowly shut down its operations after acting to suspend business in April when Nokia decided to further withdraw from Russia.
This has been confirmed by a Nokia spokesperson through an official statement saying the company will 'move on' from Russia with the closure of the office by the end of the year.
Despite this, Nokia says that it will maintain its presence in Russia until the shutdown is over.
According to the statement, Nokia will continue to maintain the network in Russia to fulfill contractual obligations and humanitarian policies.
On the other hand, Ericsson recorded a provision of 900 million crowns in the first quarter for asset impairments and other extraordinary cases related to transfers out of Russia.
As you know, Ericsson has been giving paid leave to employees since its suspension earlier this year.
In the meantime, Russian mobile operators MTS and Tele2 will depend on companies from China, Huawei and ZTE due to the production of the two phone companies.
