Sony Ericsson has reported a Q4 loss of €187 million euros ($303 million CDN), last year had a profit of 373 million euros ($609 million CDN). They shipped 24.2 million handsets, falling 6% in the quarter and down 21% year on year.
Sony Ericsson President Dick Komiyama said “In economic terms, 2008 has been a tumultuous year with world markets experiencing a serious downturn. The mobile phone market has been greatly affected by this and as expected, the fourth quarter continued to be very challenging for Sony Ericsson. Our business alignment is progressing as planned, with the full effect of annual savings of around Euro 300 million expected by the second half of 2009. We foresee a continued deterioration in the market place in 2009, particularly in the first half.”