More job cuts are coming, Sony (NYSE: SNE) Ericsson (NSDQ: ERIC) president Bert Nordberg warned, announcing horror-show Q4 and 2009 earnings blamed partly on customers flocking to touchscreens.
“Continued cost saving activities and resource realignment are necessary in order to build a leaner, more efficient organisation,” Nordberg (pictured) said in the announcement.
Q4 phone shipments were three percent back up from Q3 (thanks to Satio and Aito models) – but they join company revenue in being a horrible 40 percent below last year. This is “mainly due to a downturn in the global handset market and a faster than anticipated shift to touch screen phones in the mid-priced sector of the market”.
Annual losses ballooned from