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Electronics Production | January 19, 2012

Bad end to Sony Ericsson

Sony and Ericsson are about to go their separate ways and it's not ending on a good note. Sony Ericsson's financial results, just released, are so bad that Ericsson has issued a profit warning this morning.
Sony Ericsson reported a pretax loss of 247 million euros for the Q4 and a yearly loss of 243 million euro. Units shipped during the quarter were 9 million, a 20% decrease year-on-year and a 5% decrease compared to last quarter.

Bert Nordberg, President and CEO of Sony Ericsson commented: “Our fourth quarter results reflected intense competition, unfavorable macroeconomic conditions and the effects of a natural disaster in Thailand this quarter".

Losses are also tied to restructuring charges for the quarter, which were Euro 93 million.

Sony Ericsson's loss in the fourth quarter 2011 will impact Ericsson's, operating income with SEK -1.1 b. in the quarter the company announced this morning.
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