Wednesday, January 29, 2003
Sony and Ericsson are putting in roughly $326 million more funding to their struggling mobile phone joint venture.
Sony Ericsson has taken roughly 5 percent of the global cell phone market for the past year and has lost about $106.6 million per quarter.
It sold about 115 million units worldwide in the fourth quarter and about 395 million during 2002, compared with about 390 million in 2001, the company announced Wednesday. It expects to sell a total of 435 million units in 2003, an increase of 10 percent.
However, analysts have said they do not expect Sony Ericsson to turn a profit unless it doubles its market share.
By: DocMemory
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