Sony Ericsson Posts Narrower Loss - TheStreet

Sony Ericsson Posts Narrower Loss

Sony Ericsson said its fourth-quarter loss narrowed to 167 million euros ($236.3 million) from a year-earlier loss of 187 million euros as gross margins improved to 23% from 15%.
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Updated from 3:05 a.m. EST

STOCKHOLM (

TheStreet

) --

Sony Ericsson

said its fourth-quarter loss narrowed to 167 million euros ($236.3 million) from a year-earlier loss of 187 million euros as gross margins improved to 23% from 15%.

Sony Ericsson, in a press release Friday, said its fourth-quarter pretax loss, excluding restructuring charges, was 40 million euros.

The joint venture of Japan's

Sony

(SNE) - Get Report

and Sweden's

Ericsson

(ERIC) - Get Report

said sales in the quarter fell 40% to 1.75 billion euros from 2.91 billion euros a year earlier.

The number of units shipped fell to 14.6 million from 24.2 million.

Sony Ericsson estimates that its share of the global handset market in the fourth quarter was about 5%. It forecasts slight growth in units in the global handset market industry in 2010.

-- Reported by Joseph Woelfel in New York.

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