Sony Ericsson has suffered a rough financial patch this Q2 2009. According to The Boy Genius Report, in Q2 of 2008, Sony Ericsson had shipped 24.4 million phones. However, this year, due to the economic crisis, the company has managed to sell only 13.8 million phones. That means they managed to sell just a little over half the amount of phones they sold last year.
The dilemma doesn’t end here. This year sales were down to €1.7 billion compared to €2.8 billion last year. Moreover, Sony Ericsson has lost €213 million this quarter. However, the company has fared comparatively better than the last quarter where it lost €293 million.
According to President of Sony Ericsson, Dick Komiyama, year 2009 is expected to be tough for the company. They have undertaken cost reduction activities to prevent the company from losing even more. “As expected, the second quarter was challenging and we still believe the remainder of the year will be difficult for Sony Ericsson. Our focus remains on bringing the company back to profitability and growth as quickly as possible, and our performance is starting to improve due to our cost reduction activities. The new product portfolio that integrates communications, entertainment and social media applications should contribute to healthier topline development when shipments start later this year. We remain confident that the actions we are taking will further improve our financial situation and strengthen Sony Ericsson’s competitiveness.”
Sony Ericsson should hopefully regain its former glory soon.