Summary:

Sony (NYSE: SNE) Ericsson’s third-quarter results released today continue to reflect the weakness of global handset sales, however, the comp…

Sony Ericsson Aino
photo: Sony Ericsson

Sony (NYSE: SNE) Ericsson’s third-quarter results released today continue to reflect the weakness of global handset sales, however, the company says its restructuring is in full affect and a focus on higher end products will start to turn the business around. In Q3, Sony Ericsson (NSDQ: ERIC) shipped 14.1 million handsets, dropping 45 percent compared to the year ago period, but increasing slightly from the previous quarter.

The joint venture forecasts that this year’s global handset market will decrease by about 10 percent from 1,190 million units in 2008. Sony Ericsson estimated that its Q3 market share was around 5 percent, which is on par with the previous quarter. “We have cleared channel inventories, and have continued to realign internal resources and improve efficiency. We have also arranged external financing to strengthen the company

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