The world economy seems to be hitting everyone; Sony Ericsson has posted a much larger than first expected 4th quarter loss, and thus has announced a strategy for saving costs and braced for the mobile market conditions to get worse.

Dick Komiyama, president of Sony Ericsson said in a statement that they expect to see a continued deterioration in the mobile market place during 2009, and particularly in the 1st half.

Pretax losses totalled €261 million vs. a forecast Reuter’s poll of analysts for 72m loss. Operating losses prior restructuring charge was 133m vs. forecasted 33m. Sony Ericsson said their ongoing program for cost saving €300m annually is still on track, and aims to save a further €180m by the end of 09.

Source – Reuters