Ericsson Restates Vows To Sony; ‘We Are Committed’

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Earnings
Ericsson Restates Vows To Sony; ‘We Are Committed’

Despite tabloid-like gossip regarding the partnership between Sony (NYSE: SNE) and Ericsson (NSDQ: ERIC), it doesn’t sound like a break-up is on the horizon. Rumors have speculated that the two are disagreeing about everything from the handset maker’s product road map to how to stem its mounting loses. On Friday, Sony Ericsson warned that it will lose between €390 million ($533 million) and €340 million ($465 million) in the first quarter because of “weak consumer demand.” But Dow Jones (NYSE: NWS) reported today that Sweden’s Ericsson has no plans to abandon its joint venture. Spokesperson Minako Nakatsuma Olofzon: “We are committed to the joint venture…we haven’t changed our view on that.”