Sony Ericsson widens loss to EUR 164 million, sees economic slowdown decline

Sony Ericsson posted a loss of EUR 164 million (US$243 million) in the third quarter, widening its loss from EUR 25 million (US$37 million) a year ago, the company said in a press release. Still, it beat analyst expectations of a EUR 227 million (US$337 million) loss.

Sony hasn't made a net profit since the second quarter of 2008, The Wall Street Journal reports.

Sony Ericsson reported that handset sales are down 45 percent from the same quarter last year, though units-shipped increased 2 percent quarter-over-quarter, indicating that the global economic slowdown may be slowing and the mid-tier mobile market improving. The company shipped 14.1 million devices in the quarter.

Sony Ericsson president Dick Komiyama said that the company was also able to secure EUR 455 million (US$677 million) in external financing to help its position.