Sony Ericsson posts loss of Euro 213 m

 
The firm said the loss was Euro 213 million compared with a profit of Euro6 million a year ago. The result was the fourth consecutive quarterly loss for Sony Ericsson.

It shipped 13.8 million units in the quarter, down 43 per cent year-on-year. Sales for the period fell by 39 per cent to Euro1.7 billion from Euro2.8 billion in the second quarter of 2008. “As expected, the second quarter was challenging and we still believe the remainder of the year will be difficult for us,” Sony Ericsson President Dick Komiyama said.

The handset industry this year faces its worst downturn on record and Sony Ericsson expects the global market to shrink at least 10 per cent.

The firm has rapidly lost market share in recent quarters with a portfolio focused on camera and music phones and mid-range products.