News by Michael Oryl on Thursday January 19, 2012.
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Today, smartphone maker Sony Ericsson announced its Q4 and year-end 2011 performance results. While the company saw a 65 percent increase in sales of its Android-powered Xperia line of smartphones over Q4 of last year, it still posted a very large loss of 247 million EUR for the year on sales of 34.4 million phones. This contrasts with the profit of 90 million EUR that it posted at the end of 2010 on sales of 43.1 million handsets.
The company claims that the loss is due to, in part, its move away from the feature phone market, increased competition in the smartphone market, and the flooding in Thailand that impacted its suppliers.
Sony Ericsson notes that it has sold 28 million of its Xperia line of smartphones to date, and that it expects the acquisition of Ericsson's stake in the company by Sony to close in late January or early February.