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Discouraging results for Sony Ericsson at least. I’m personally quite happy with the quarter results, and expect to see it turn again either in Q4 or Q1 of next year. The results forces Sony Ericsson to do something about the situation. An obvious sign of crisis is when you list one of the quarter highlights as having achieved break-even results, when you exclude the restructuring chargers.

- As expected the third quarter has continued to be challenging for Sony Ericsson.  We have moved forward with our plans to align operations and resources with the consolidation of R&D facilities into a more agile and cost efficient organisational structure. As previously announced, our target remains to reduce operating expenses by Euro 300 million annually by the end of the second quarter 2009, with the full effects expected to appear in the second half of 2009. These plans are progressing in line with expectations, says Dick Komiyama, President at Sony Ericsson in a press release.
We are committed to executing our alignment plan as speedily as possible to ensure we have the right size and organisational structure to return the business to healthy profitability, he continues.

The results are as follows:

Don’t forget to watch the webcast about the results later today. I can’t wait for the Q&A session myself! The webcast starts at 14:30 UK time or 15:30 CET at this link.

This entry was posted on Friday, October 17th, 2008 at 8:28 am and is filed under market, news. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.