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July 17, 2009

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Another loss for handset maker

HANDSET maker Sony Ericsson said yesterday it booked another loss in the second quarter as the global economic crisis continued to weigh on mobile phone sales.

The LM Ericsson and Sony Corp joint venture said the loss of 213 million euros (US$299 million) compared with a profit of 6 million euros a year ago. The result was the fourth consecutive quarterly loss for Sony Ericsson.

The company shipped 13.8 million units in the quarter, down 43 percent year on year. Sales for the period fell 39 percent to 1.7 billion euros from 2.8 billion euros in the second quarter of 2008.

EQ Bank analyst Jari Honko said the report was largely in line with his expectations and underlines that Sony Ericsson is in "deep trouble."

Dark outlook

"My future outlook for the company is pretty dark," he said. "I haven't seen any magical trick that could improve Sony Ericsson's position."

He said that although the weak handset market was causing difficulties for Sony Ericsson, it also had some "major company-specific issues" regarding its product strategy.

"One should not draw any hasty conclusions for other companies, such as Nokia, from this report," he said.

Sony Ericsson estimates its market share was more than 5 percent in the second quarter against about 6 percent in the first quarter.



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