The 50 50 joint venture between Sony and Ericsson has reported a loss of 318$ Million during the last quarter of 2011.The losses were not in just the Q4 as the report says that Q3 had over a 50$ million loss.
The company blames intense competition and price erosion for their huge losses,the firm has seen looses in Q4 2010 also which were upto 265$ million, apparently the company was running in losses since 2010 and their last profit condition was back in 2009 Q4 where it had 8$ million profit.
The sales of Sony Ericsson devices exponentently went down 16% percent year after another since 2009.
Sony is planning to take over the 50% stake of Ericsson which is approx 1.05 Billion Euros,the transaction is expected to happen in the last week of February.
