Sony Ericsson reported its 4th consecutive period of red ink, losing 213 million Euros in the second quarter. The number of phones shipped by the joint venture was about half the number shipped during the prior year when it made 6 million Euros. Sony Ericsson expects conditions to remain tough during the rest of the year as it predicts that the global handset market will contract at least 10% for this year. While gross margins slumped from 23% to 12%, the number of phones shipped dropped from 24.4 million to 13.8 million during the three months.
source: MarketWatch (Ericsson), MarketWatch (Sony)