Sony Ericsson loses ?1bn

Sony Ericsson may have announced the Vivaz mobile phone, and the Xperia X10 may be on the brink of a UK release, but the manufacturer, which experienced poor financial results during early 2009, suffered still further during the fourth quarter, losing around €1bn for the entire year. A figure that's unlikely to have gone astray down the back of the sofa.


Fourth quarter sales experienced a like-for-like drop when compared with 2008: 14.6 million phone sales compared with a 24.2 million sales figure in 2008. A total of €40m was lost in the fourth quarter alone (before taxes and excluding restructuring charges), a time when, traditionally, sales should rise as everyone gears up for the Christmas season.


Sony Ericsson's president, Bert Nordberg, tried to sound positive through gritted teeth: 'We will continue to focus on returning the company to profitability by establishing Sony Ericsson as the communication entertainment brand based on an exciting portfolio of mid and high-end products, such as our recently announced Android-based phone, the XPERIA X10...we are confident that our business is on the right track.'


Tell that to the extra 1,500 employees of the company who will lose their jobs as a result of the new figures.


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