Sony Ericsson Has Sixth Consecutive Loss
Sony Ericsson Mobile Communications, the mobile-phone venture of Sony Corp. and Ericsson, reported its sixth consecutive quarterly loss and said 2010 will be “challenging.”
The fourth-quarter net loss narrowed to 167 million euros ($236.4 million) from 187 million euros a year earlier, the London-based company said in a statement today. Sales declined 40 percent to 1.75 billion euros. Analysts had estimated a net loss of 169 million euros on sales of 1.9 billion euros, according to a survey by SME Direkt.
Sony Ericsson has lost sales to other handset makers as competition in the smartphone market increased. The company has introduced new phones using Android and announced three development site closures in November as it carried out its second round of savings measures in two years.