Ericsson remains committed to Sony Ericsson despite setbacks

Despite rumors circulating the web, Ericsson will not be abandoning the Sony Ericsson joint venture. "We are committed to the joint venture...we haven't changed our view on that," Ericsson spokesperson Minako Nakatsuma Olofzon told Dow Jones Newswires on Friday.

Earlier on Friday, mobile phone shares plunged after Sony Ericsson warned investors to expect a weak first quater. The company expects to ship 14 million phones in the Q1, down 37 percent from the year before.

Olofzon said that Ericsson would be impacted by Sony Ericsson's predicted losses, but did not provide an estimate of how much the company would be affected. On Monday, the president of Sony Ericsson USA Najmi Jarwala announced his resignation from the company. [via mocoNews]