Sony Ericsson reports €73 million loss for 2008, re-confirms its Android handset
Sony Ericsson’s financial results for 2008 are now out and, as expected, they’re far from being satisfactory.
For the fourth quarter of 2008, the Swedish-Japanese joint venture posted a net loss of €187 million (somewhere around $247). Added to the results from the other three quarters, this means that, during the whole year, SE lost €73 million.
The number of Sony Ericsson handsets shipped in Q4 2008 is of 24.2 million, while the total number of handsets shipped during 2008 is of 96.6 million – a 6.57% decrease when compared to the 103.4 million units sold in 2007.
Talking about the 2008 results, as well as about what 2009 will bring, Dick Komiyama, Sony Ericsson’s President, declared:
In economic terms, 2008 has been a tumultuous year with world markets experiencing a serious downturn. The mobile phone market has been greatly affected by this and as expected, the fourth quarter continued to be very challenging for Sony Ericsson. Our business alignment is progressing as planned, with the full effect of annual savings of around Euro 300 million expected by the second half of 2009. We foresee a continued deterioration in the market place in 2009, particularly in the first half.
And now the good news: Sony Ericsson re-confirmed the fact that an Android handset is under development, although it gave no other details about this. Well, the world is waiting.
Via Press release