Ericsson, Nokia, Logitech and other western tech companies set out Russian exit plans

While Ericsson had suspended its business in Russia indefinitely in April, Nokia went a step further and said it would withdraw fully from the country

Western technology companies, including Ericsson and Nokia, announced plans for complete exits from Russia on Monday, following Dell last week, as the pace of withdrawals accelerates.

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Ericsson said it will gradually withdraw from Russia over the coming months, while its Finnish rival Nokia said it also plans to exit its Russian business by the end of the year.

Switzerland-based Logitech International also said it would wind down its remaining activities in Russia, having suspended its operations in March.

More western companies are selling or withdrawing from their Russian businesses, having initially halted operations after Moscow sent tens of thousands of troops into Ukraine on February 24.

The process has required careful planning given the ongoing political challenges, Paolo Pescatore, analyst at PP Foresight, said.

"We are now seeing the fruits of exit plans that have been months in the works," Mr. Pescatore said. "They are all now following suit."