Nokia, which suspended supplies to Russia in early March, “can now announce that we are leaving the Russian market,” the company said in a statement.
The company says the decision will cost an additional € 100 million in the first quarter of this year.
The Russian market accounted for less than 2% of Nokia’s sales in 2021.
Swedish rival Ericsson said on Monday that it was temporarily stopping operations in Russia and the company’s 600 employees would go on paid leave in the country.
The departure of the two companies, which are important players in the global 4G and 5G markets, from Russia, paves the way for the Chinese company Huawei to expand its operations in the country.
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