Sony Ericsson “mind the gap”

15 Jul 2003

The London-based joint venture of Sony Corp and Ericsson, Sony Ericsson Mobile Communications has posted a wider Q2 loss as a result of job cuts and the closure of some units, and said it expects to report a loss for the full-year. The widening loss is of growing concern for the world’s fifth largest manufacturer of mobile handsets which is struggling to turn a profit and keep up with rivals such as Samsung. Sony Ericsson earlier predicted a profit for 2003 but returned a loss of EUR88 million for the three months to 30 June, compared with EUR83 million for the corresponding period of 2002.

United Kingdom