Sony Ericsson posts $247 million Q4 loss, isn't looking forward to Q1 2009
Sony Ericsson's had a rough couple of months (along with just about everybody else), and things certainly aren't looking any more stellar in Q4. The outfit has just posted a fourth-quarter drop in net income of €187 million, or just south of $248 million. That figure becomes all the more striking when you consider that it showed profits of €373 million in the same period last year. As expected, the company blamed the "global economic slowdown" for the contracting demand, though it did say that the previously announced €300 million cost savings initiative was still on track. President Dick Komiyama noted that he still sees "continued deterioration in the market place in 2009, particularly in the first half," giving us all reason to believe that similar sadness will be emitted from its Q1 / Q2 2009 reports. Still, we'd argue that things could turn around quick, fast and in a hurry if it figures out a way to get Android onto a shipping handset. We all know SE's got the design angle down -- toss a decent OS on there and you've got a winner.
[Via mocoNews]
