“Sony Ericsson, the world’s fourth largest mobile phone manufacturer, on Wednesday issued a profit warning because of a shortfall in sales in the company’s core European markets,” Andrew Parker reports for The Financial TImes.
“The warning suggests the global economic downturn is starting to bite in the telecoms industry,” Parker reports. “The company hinted that European consumers were buying fewer new mobiles to replace their existing handsets than previously anticipated.”
“Sony Ericsson said its revenue and net income in the first quarter of 2008 would be negatively impacted by slowing sales growth relating to its mid to high end priced mobiles,” Parker reports.
Full article here.
[Thanks to MacDailyNews Reader “Occasional Poster” for the heads up.]