Clean Break: the company completely halting Russian engagements or exiting Russia

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Telefonaktiebolaget LM Ericsson, commonly known as Ericsson, is a Swedish multinational networking and telecommunications company headquartered in Stockholm.

Clean Break: the company completely halting Russian engagements or exiting Russia

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Revenue(RF), mln.USD
67
Staff
565
Capital, mln.USD
46
Assets, mln.USD
52
Glob.Revenue, mln.USD
27088
Taxes, mln.USD
13

The new owners of the business, that has some 40 employees, come from the management of Ericsson's Russian subsidiary, the company said in a statement.

The Company Statement
December 15, 2022

Planned exit of business in Russia and gradual wind down business activities in Russia over the coming months. Previously had suspended deliveries to Russia while evaluating further actions. Said "it is only providing software and technical support to Russian clients and has not sold any telecommunications equipment to mobile operators there since the Ukraine war started", after Swedish media reported the company had continued its exports.

December 21, 2022Russian mobile calls, internet seen deteriorating after Nokia, Ericsson leave
November 11, 2022Russia's Tele2 files lawsuit against Ericsson over Russia withdrawal
September 23, 2022Ericsson says no hardware exported to Russia, only software support
August 29, 2022Ericsson, Nokia to wind down Russian operations by year end
Ericsson suspends all deliveries to Russia
April 28, 2022Ericsson suspends the supply of equipment to Russia
March 11, 2022Ericsson’s Russia exit will stifle 5G rollout
August 11, 2022Ericsson suspends business in Russia indefinitely and records provision in Q1 2022
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