Ericsson has suspended its affected business with customers in Russia indefinitely in the light of recent events and of EU sanctions.
This follows the suspension of all deliveries to customers in Russia in late February.
In a statement, the company says it is now engaging with customers and partners about the indefinite suspension. “The priority is to focus on the safety and well-being of Ericsson employees in Russia and they will be placed on paid leave”.
Ericsson adds that as a consequence it has recorded a SEK0.9 billion (€87.5 million) in Q2 2022 for impairment of assets and other exceptional costs. No staff redundancy cost is included. The provision will be recorded in Other Operating Expenses in Segment Networks and around one third of this amount will impact cashflow.
