Swedish telecom equipment company Ericsson said in an emailed statement on Tuesday that it had suspended shipments to Russian customers while it assessed the potential impact of U.S. and European sanctions against Russia on its business.
Ericsson noted that it is too early to say how Ericsson will be affected and that the company is making an urgent assessment.
Ericsson warned in its full-year earnings report earlier this year that growing tensions between Russia and Ukraine posed a threat to market conditions and supply chains, while also making it increasingly difficult for the company to respond to changing geographies Political Environment.
In addition, foreign media DCD reported that Ericsson was previously stepping up the rollout of 5G networks in Russia. In October last year, it signed a strategic partnership agreement with MTS, Russia's largest mobile network operator, to build 5G base stations in the country.
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