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Sony Ericsson Posts 4Q Loss
Jan 20, 2009
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Sony Ericsson posted a €187 million (US$245 million) loss in the fourth quarter, mainly because of a 23% drop in sales.

However, the company said that despite the losses, the average selling price for its handsets were up from the third quarter, boosted by favorable currency rates and higher sales of its high-end models. It also maintained its estimated market share of 8% in the quarter.

The company said its cost savings plan is running "on track," but that it plans to increase the savings by shaving an extra €180 million off its operating costs. The full effect of that plan is expected by the end of this year.

The company said it expects the global handset market to contract and the average selling prices of handsets to decrease. It said its estimate of the global handset market in 2008 had been revised to 1.19 billion units — 6% growth. It had previously estimated growth of 10%.

Sony Ericsson said it shipped 24.2 million units in the fourth quarter, which was a 21% drop from the fourth quarter last year.

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