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Sony Ericsson swings to 4Q loss

Sony Ericsson swings to 4Q loss

Mobile phone maker Sony Ericsson said Friday it swung to a net loss in the fourth quarter, pressured by lower volumes due to the global financial crisis.
The Sony Corp. and LM Ericsson AB joint venture said net loss came to 187 million euros ($245 million), compared with a previous profit of 373 million euros.
It also reported a loss for the full year 2008, at 73 million euros, from a previous profit of 1.1 billion euro.
Sales in the three-month period came to 2.9 billion euros, down 23 percent from 3.8 billion euros in the same period in 2007.
The company said it shipped 24.2 million units in the quarter, dropping 21 percent from the fourth quarter last year, but maintained a cost savings plan was "on track."
It said it expected the market conditions to continue to deteriorate in 2009.


Updated : 2021-05-11 11:04 GMT+08:00