1 posts and columns on business outlook

Ericsson: Thanks a Lot, Sony

in News on April 30, 2009 at 5:08 am PT

Now we know why Ericsson declined to offer a specific business outlook for 2009 when it last reported earnings. This morning the company posted a 35 percent drop in first-quarter profit, its financials undermined by its Sony Ericsson joint venture and by customers postponing purchases because their local currency has collapsed.