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Sony Ericsson hit by mobile phone market downturn

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Sony Ericsson hit by mobile phone market downturn

Sony Ericsson was hit by continued slowing of demand for mobile phones during the second quarter, new figures have shown.

The joint venture’s latest reports reveal that the joint venture recorded a loss of £183 million in the period from April to June.

The performance comes amid a backdrop of faltering consumer demand that has impacted heavily on rival mobile manufacturers in recent months, as credit crunch-hit phone owners increasingly opt to hang on to their current handset models for longer.

However, Dick Komiyama, president of the company, remained optimistic that Sony Ericsson’s fortunes would turn around in months to come as conditions in the wider economy improve.

He said: "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."

Mr Komiyama’s hopes that a revival is imminent have been bolstered by the recent success of the Sony Ericsson W995 and signs of strong pre-release demand for the 12 megapixel Sony Satio cameraphone.

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