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Sony Ericsson Posts £205 Million Q4 Losses

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The decade-long adventure that is Sony Ericsson will come to an end in the next few weeks and looking at the final set of financial results for the joint venture, that is no bad thing.

Sony Ericsson has posted a loss of €247 million (around £205m) for the fourth quarter of 2011 which is a long way off the €41.7m profit as predicted by a Reuters poll prior to the figures being released.

Sony Ericsson blamed a range of factors for the rather large loss, including intense competition, price erosion, restructuring charges, unfavourable macro economic conditions and effects from the flooding in Thailand last year.

Sony Xperia S

Sony is expected to tie up the deal to purchase the 50 per cent of the venture owned by Ericsson by “late January to February”, with Sony paying Ericsson €1.05 billion as part of the deal.

Sony unveiled the first smartphones which will bear the Sony name on its own at CES last week, including the Xperia S and the Xperia Ion (though units on show at CES still bore the double-barrelled name, they will come to market as Sony-only devices.)

Source: Marketwire via The Verge

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