John
10-17-2009, 09:10 AM
Analysts have said the firms poor financial performance is because it lacks a cheap phone with a Qwerty keyboard. Such phones tend to be the dominant choice among business users as well as being increasingly popular among consumers.
The company said that while its sales have nearly dropped to half of what they were a year ago, it has signed a $676m (£413m) financing deal in order to put market leading phones on sale.
During the quarter sales slumped to 1.6bn from 2.8bn a year ago. The loss in revenue was due to a falling number of mobile phones shipped.
For the third quarter this year, Sony Ericsson shipped 14 million mobile phones compared to 26 million during the same period last year.
We are now better positioned to support the launch of new products such as Aino and Satio in the fourth quarter of 2009, said the firms outgoing president Dick Komiyama.
We have cleared channel inventories, and have continued to realign internal resources and improve efficiency, he said.
We have also arranged external financing to strengthen the companys financial position. Transforming the business for future growth and returning Sony Ericsson to profitability is the focus of the senior management team and will continue under the new leadership, he added.
The company said that while its sales have nearly dropped to half of what they were a year ago, it has signed a $676m (£413m) financing deal in order to put market leading phones on sale.
During the quarter sales slumped to 1.6bn from 2.8bn a year ago. The loss in revenue was due to a falling number of mobile phones shipped.
For the third quarter this year, Sony Ericsson shipped 14 million mobile phones compared to 26 million during the same period last year.
We are now better positioned to support the launch of new products such as Aino and Satio in the fourth quarter of 2009, said the firms outgoing president Dick Komiyama.
We have cleared channel inventories, and have continued to realign internal resources and improve efficiency, he said.
We have also arranged external financing to strengthen the companys financial position. Transforming the business for future growth and returning Sony Ericsson to profitability is the focus of the senior management team and will continue under the new leadership, he added.