Sales take a turn for the worst for Sony Ericsson
Sony Ericsson the mobile phone maker have stated that they made a loss in the last quarter (quarter 4) due to a rapid slump in sales.
The statement on Friday still showed an improvement from the same quarter last year, however form a loss of Euro 187 million to Euro 167 million.
The slump in sales is what has had a very harsh impact on the profits as they drop around 40%. Overall for the whole of 2008 the net loss ended up being recorded as Euro 836 million compared with a previous profit of Euro 73 million.
The Lm Ericsson and the Sony Corp joint venture has claimed to have shipped some 14.69 million units un the quarter which is up from the third quarter but still a 40% drop from the same period a year ago. Source – canadianbusiness.com