OREANDA-NEWS   Swedish telecommunications equipment manufacturer Ericsson will transfer the Russian business under the management of local management. The company announced the conclusion of the relevant agreement on its website.

The Russian division of Ericsson was responsible for customer support, the company employs about 40 employees. As part of the contract, in addition to the staff, certain contracts and some assets of the company will be transferred to local managers.

In 2023, Ericsson will leave the Russian market. The Company will retain registration under the former legal entity to complete the winding down of activities in the country and fulfill legal, contractual and administrative requirements.