First of many?
Mobile phone maker Sony Ericsson has warned that it expects to lose between €340 and €390 million in the first quarter of 2009, as weak consumer demand and de-stocking in the channel continue to take their toll.
This could well be the start of a sequence of warnings as we approach the end of what is expected to have been a weak quarter.
Sony Ericsson expects to have shipped around 14 million units by the time the quarter ends, with an average selling price of €120. These losses don't include additional restructuring charges of €10-20 million.
Shares of handset makers have dropped on the news, including those of Ericsson, which co-owns the company with Sony, believe it or not. It has recently been rumoured that Sony may be looking to buy Ericsson out of its half of the company
The full Sony Ericsson Q1 financial results announcement will take place at 07:30 on 17th April.
