Sony Ericsson sees net profits fall 97%, looks to cut 2,000 jobs

Sony Ericsson warned the world just over a fortnight ago that things wouldn't be too rosy when it came time to announce Q2 results, and rosy things are not. Even though the handset maker was hoping and praying to break even at the end of the quarter, net profits ended up falling through the floor to the tune of 97%. As predicted, weak sales of mid-to-high-end mobiles were blamed for the bulk of the bad news, and it did affirm that conditions would remain rough for the rest of the year. Granted, the looming launch of the Xperia X1 should help matters a bit, but without a new stable of low-end cellies to send to emerging markets, it'll be a long road back to the top. Unfortunately, SE's sagging position in the market has left it slashing 2,000 jobs across the globe, though it didn't say exactly where the cuts would be made. It's okay SE, there's only one place to go when you're laying on the bottom... or something like that.

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Read - Sony Ericsson's Q2 earnings
Read - Sony Ericsson plans job cuts