Ericsson announced the suspension of business in Russia
Employees of the Ericsson office in RUSSIA will be sent on paid leave
Swedish telecommunications equipment manufacturer Ericsson is suspending business in Russia for an indefinite period, the company said in a statement on its website.
“In light of recent events and European Union sanctions, the company will indefinitely suspend its activities with clients in Russia,” the statement said.
The press service noted that Ericsson will open a reserve account for 0.9 billion Swedish kronor (about $95 million) in case of depreciation of assets and other "exceptional expenses", and employees of the Ericsson office in Russia will be sent on paid leave.
The government approved almost all measures to support the telecom industry Technology and media
The largest European suppliers of equipment for mobile communication networks in Russia have traditionally been Swedish Ericsson and Finnish Nokia. According to Kommersant's sources in the market, Nokia's share is approximately 30-40%, Ericsson's share is about 20%.
On February 28, the Swedish company announced the suspension of the supply of its products to Russia. “We are urgently analyzing how the events and the imposed sanctions may affect our business. We are suspending all deliveries to Russia while we are analyzing, ”said Borje Ekholm, CEO of Ericsson.
The European Union has introduced the fifth package of sanctions. What is important to know Business Read on RBC Pro Pro "Now Russia Or not? Pro x BLOOMBERG Predictions Cosmic Scale:
In early March, against the backdrop of Western sanctions that affected, among other things, the import of products for the telecommunications industry, the Ministry of Digital Transformation proposed, among other things, to support telecom operators, softening the requirements for them to increase information storage capacity by 15% and the obligation to store video traffic.
The ministry also proposed introducing a mechanism for fair tariff indexation in the face of rising consumer prices, establishing a 3% tax rate on operators' profits, providing soft loans to operators, and postponing scheduled inspections of telecommunications companies.
On March 19, the government approved almost all of the support measures proposed by the ministry, with the exception of a moratorium on the dismantling and transfer of communications equipment at the request of the authorities.