Nokia Corporation (NOK)

[eastunder]

Nokia to exit the Russian market; no impact to financial outlook
6:01 AM ET, 04/12/2022 - Briefing.com
Nokia states: "...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. We can now announce we will exit the Russian market. During this process our priority continues to be the safety and wellbeing of our employees."Regarding the financial impact of the decision, Russia accounted for less than 2% of our net sales in 2021. "Considering the strong demand we see in other regions -- we do not expect this decision to impact our ability to achieve our 2022 outlook provided in the Nokia financial report for Q4 and full year 2021 issued on 3 February 2022. We expect this decision to lead to a provision in Q1 of approximately 100m which will impact our reported but not comparable financials."