Sony Ericsson announced its fourth-quarter financial report on Thursday, saying that the major losses were mainly due to fierce competition, global economic slowdown and corporate restructuring.
Sony Ericsson announced that it had lost 247 million euros ($316.57 million) before the tax in the fourth quarter, while analysts expected it to make a small profit.
Sony Ericsson lost 243 million euros in the year. Ericsson, which owns 50% of Sony Ericsson’s shares, said that the company will bear a loss of 1.1 billion kronor ($160.32 million) and will account for fourth-quarter earnings.
Sony Ericsson announced that it had lost 247 million euros ($316.57 million) before the tax in the fourth quarter, while analysts expected it to make a small profit.
Sony Ericsson lost 243 million euros in the year. Ericsson, which owns 50% of Sony Ericsson’s shares, said that the company will bear a loss of 1.1 billion kronor ($160.32 million) and will account for fourth-quarter earnings.
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