Sony Ericsson posts Q3 financial results

Sony Ericsson posts Q3 financial results
Nokia announced substantial Q3 losses yesterday and things do seem troubling in their camp. Sony Ericsson has just posted the company´s financial results for the same period of 2009 and they look somewhat better. The sales of new handsets have grown with 300,000 units to a total of 14,1mln devices, as compared to the previous quarter. However, this does not hold true for the net earnings that are down yet again. The manufacturer goes on to clarify that the negative result is mainly due to the worsened market situation that has lead to shrinking average prices of the cell phones. The total loss of the company for the period amounts to $242mln. (163mln. EUR), which is almost $73mln. (49mln. EUR) less than the result for the second quarter of 2009. 

As a whole, the overall financial health of Sony Ericsson is improving and the company states this is due to their cost-cutting initiatives, better than expected sales of the music-oriented W995 and previously arranged external financing plans. Given the current state of affairs of the cell phone market, Sony Ericsson is one of the few manufacturers that show signs of recovery and positive trend towards financial stabilization.

source: Sony Ericsson

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