Sony Ericsson posts $33.6M loss, sees sales drop

Sony Ericsson reported its third quarter results Friday and posted a net loss for the quarter of $33.6 million, compared with a $358.6 million profit from the quarter last year. The joint venture also saw its sales drop 10 percent compared to the third quarter of 2007, dropping to $3.76 billion, from $4.16 billion last time.

The company shipped 25.7 million units in the quarter, flat from the 27.9 million last time, and the average selling price declined to $146 down from the second quarter price of $156 and the third quarter last year price of $161.

The joint venture between Japan's Sony and Sweden's Ericsson has been on shaky ground recently. The company cut 450 jobs from its North American headquarters at the end of September and its second quarter profits had dropped 97 percent.

For more:
- see this article [1]
- see this earnings release [2]

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