KIANEWS 
CES or the International Consumer Electronics Show is the premium event of the technology sector. It will take place between January 9 and 12, 2024 at the usual location, the Las Vegas Convention Center, where HMD Global, or HMD America, will now also be present. This year, the Finnish company that operates Nokia-branded devices rented a booth in Murano 3201A, which is the location of the meeting. Last year, HMD struck a similar deal and unveiled several US-based devices.
Vladimir Putin approved Rostelecom to buy out Nokia from the joint venture
30. 05. 2024 Thursday / By: Robert Denes / Business / Exact time: BST / Print this page
R ussian President Vladimir Putin has reportedly authorized a subsidiary of Rostelecom to buy Nokia's stake in a software joint venture, facilitating the Finnish manufacturer's exit from the country.
The Moscow Times reported that Putin signed a decree for a subsidiary controlled by the government through various state development companies and a state-owned bank to acquire Nokia's 49 percent stake in a venture called RTC - Network Technologies. Financial details of the deal were not disclosed.
Under the laws enacted by the Russian government in response to sanctions imposed after the war with Ukraine, Putin must approve any deal that involves a Western company exiting strategically important areas.
The joint venture was established in 2018, and Nokia and Rostelecom agreed to jointly invest in advanced technologies, including 5G and IoT. However, following Nokia's decision to withdraw from Russia announced in April 2022, the writing was on the wall due to its interests in the JV.
In announcing its withdrawal from Russia, the company said it had been clear since the beginning of the invasion of Ukraine that its continued presence in Russia was not possible. Rostelecom previously stated that its business model was severely affected by Nokia's exit from the market.
The West has targeted Russian telecommunications networks with sanctions on technology and hardware exports since the war with Ukraine began two years ago.
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