Sony Ericsson swallows $317 million pre-tax loss as end draws near

Sony Ericsson's tearful breakup continues with more woe as as the venture had to eat a pre-tax loss of €247 million (roughly $317 million). Bosses cited "unfavorable macro-economic conditions" and the Thai flooding as the reasons for the loss. Ericsson probably won't mind having such an unfavorable penultimate quarter with the company, given that it's set to receive €1.05 billion (around $1.9 billion) when Sony buys out its share of the joint telecoms business within the next month.

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Sony Ericsson swallows $317 million pre-tax loss as end draws near originally appeared on Engadget on Thu, 19 Jan 2012 03:58:00 EDT. Please see our terms for use of feeds.

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Source: http://www.engadget.com/2012/01/19/sony-ericsson-317-million-loss/

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