Sony Ericsson reports better than expected loss

Sony Ericsson reports better than expected loss

Sony Ericsson has reported a better than expected loss of £150m for the third quarter of this year.

The manufacturer said today (16 October) that the improved figures were starting to show the effects of its transformation programme, which saw 4,000 job cuts announced over one year.

Sales were up by 2% on the previous quarter to £1.4bn but were down 45% compared with the same period in 2008. Its market share was 5% in the third quarter of this year.

Sony Ericsson repeated its prediction that the global market would decline by 10% this year, although it said the decline was slowing.

Its average selling price rose to £104 from £99 a year earlier, but the number of units shipped fell to 14.1 million form 25.7 million

The company, which also said it would be receiving fresh investment form its owner companies, made a loss of £258m for Q2. It has not made a profit since the second quarter of 2008

Sony Ericsson said it expected to see the full effects of its programme to cut £802m a year in the second half of 2010.

Written by Mobile Today
Mobile Today

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