Sony Ericsson posts big loss in Q2
- Source: Xinhua
- [07:56 July 17 2009]
- Comments
Cell phone maker Sony Ericsson said Thursday it suffered a big loss in the second quarter of 2009 due to continued challenging market conditions in all regions.
Units shipped in the quarter were 13.8 million, down 43 percent compared with the same period in 2008, while sales for the quarter dropped 40 percent year-on-year to 1.68 billion euros (about 2.35 billion U.S. dollars), the Japan-Sweden joint venture said in a statement.
As a result, the company posted a net loss of 213 million euros (about 299 million dollars) in the quarter, compared to a net profit of 6 million euros (about 8.4 million dollars) for the corresponding period in 2008.
Sony Ericsson estimated its market share at more than 5 percent in the second quarter, 1 percent down from the first quarter.
It maintained its forecast that the global handset market for 2009 would continue to decline by at least 10 percent from around 1.19 billion units in 2008.
"As expected, the second quarter was challenging and we still believe the remainder of the year will be difficult for Sony Ericsson," Sony Ericsson President Dick Komiyama said in the statement.
"Our focus remains on bringing the company back to profitability and growth as quickly as possible, and our performance is starting to improve due to our cost reduction activities," he added.