Sony Ericsson Bleak Q1 Financial Results

Things aren’t looking too rosy for Sony Ericsson at the moment. The company has just released its Q1 financial results, which show a net loss of EUR 293m ($387m). To further add oil to the fire, it also stated that it would eliminate 2,000 jobs in an effort to cut costs. The company has already had 2 rounds of headcount reduction, reducing employee headcount by more than 2,000. This is probably a direct result of Sony Ericsson’s sales falling 36% to EUR 1.7b ($2.2b) in Q1, compared to the EUR 2.7b ($3.5b) for the same period last year.