Sony Ericsson record losses in fourth quarter
Sony Ericsson has published its fourth quarter results that show it recorded a fourth quarter loss as people that recycle their mobile phones look towards different brands for their new devices.
The firm recorded losses of €154 million (£128.6 million) before tax which is a deficit of €193 million when compared with results for the fourth quarter in 2010. Despite these figures, the firm recorded a 65 per cent year-on-year increase in sales of Android-based XperiaTM smartphone.
President and chief executive officer of Sony Ericsson Bert Nordberg said the organisation has shifted its business from feature phones to smartphones and the Xperia portfolio will be a "cornerstone" of its smartphone lineup in 2012.
“Our fourth quarter results reflected intense competition, unfavourable macroeconomic conditions and the effects of a natural disaster in Thailand this quarter," he added.
HTC recently revealed that it had recorded a downturn of 2.49 per cent in profits for the fourth quarter of 2011.
Posted by Claire Marshall
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