Sony Ericsson sales drop 42 per cent

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Sony Ericsson is the latest company to take a hit in the recession with its quarterly sales dropping dramatically.

In its third quarter results posting ending 30 September, Sony Ericsson announced sales of €1.6 billion, a 42 per cent drop from its sales of €2.8 billion for the same period of last year.

Its operating loss also reached €193 million compared to €33 million in 2008. Overall net losses came in at €164 million compared to €25 million in the same quarter last year.

“Our business in the third quarter started to show the effects of our ongoing transformation programme,” said Dick Komiyama, outgoing president of Sony Ericsson, in a statement.

He added: “Transforming the business for future growth and returning Sony Ericsson to profitability is the focus of the senior management team and will continue under the new leadership.”

He also said the release of new phones in the fourth quarter – namely the Aino and Satio – will help the company recover from tough market conditions in the future.

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