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Nadine Mather and Chloë Loubser
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Sony Ericsson preps investors for gloomy Q2
Sony Ericsson, the world's fifth-largest maker of mobile phones, warned Friday that its second-quarter profit and sales figures would miss forecasts due to a combination of lower demand for higher-profit handsets and product delays.
The company - a joint venture between consumer electronics giant Sony and communications gear maker Ericsson - cited moderating demand for mid- and high-end handsets as well as difficulty in getting new products to market during the quarter as planned.
Sony Ericsson, which will formally report earnings on 18 July, said it expects to present a break-even quarter. In the year-ago quarter, the company had net income of US$346 million.
The company expects to report that it shipped 24 million phones during the June quarter, with an average selling price of $181. Gross margin is also expected to be down both year-over-year and from the first quarter.
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