Sony (NYSE: SNE) has released its full year earnings for the 12 months ending March 31st, and its 50 percent share in Sony Ericsson (NSDQ: ERIC) helped drag down ts results. We already knew Sony Ericsson was in trouble—it’s first quarter results were dismal and it announced plans to axe 2,000 jobs. For the 12 months ending March 31st Sony reported an equity in net loss from affiliated companies of 25.1 billion yen (US$256 million), a deterioration of 125.9 billion yen (US$1.323 billion) year-on-year. Sony Ericsson’s share of that was 30.3 billion yen (US$309 million), compared ton equity in net income of 79.5 billion yen (US$836 million) a year ago. Further details on Sony’s result is at PaidContent.

SEE ALSO: Not Just The Recession To Blame For Sony Ericsson’s Downward Spiral

For the year ending March 31st 2009 Sony Ericsson saw sales and operating revenue fall 19 percent year-on-year to 10,278 million euro (US$13.86 billion). This saw the handset manufacturer swing from 993 million euros (US$1,338 million) in profit after taxes in 2008 to a 489 million euro (US$659 million) loss in 2009. The company put this down to “a less favorable product mix and price pressure, a decrease in unit shipments, as well as the recording of restructuring charges”. It has indicated it may ask its parents for a $1.3 billion bail-out, and Ericsson has already indicated it is willing and able to inject funds. For its part, Sony Ericsson recognizes that the problem is not just the economy but also the way it was running ts business, and a new president has plans to change that.

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