toggle

AAPL Stock: 113.29 ( + 0.37 )

Printed from http://www.macnn.com

Ericsson says it's "committed" to Sony phone venture

updated 03:25 pm EDT, Mon March 23, 2009

Ericsson committed to Sony

The latest in the on-again off-again rumors of a split between Sony and Ericsson in their joint cell phone venture has the Dow Jones reporting that Sweden's Ericsson has no plans to get out of the venture, according to a Monday MocoNews story. Ericsson spokesperson Minako Nakatsuma Olofzon has dismissed the rumors and maintained that its relationship as part of Sony Ericsson is stable. "We are committed to the joint venture... we haven't changed our view on that," he said.

The most recent rumors regarding the split had Sony in talks with banks to buy out Ericsson's 50 percent stake in the company, although the electronics giant has posted its first loss in 14 years and is therefore not likely to be in a position to make such a large purchase. The partners have also allegedly not been seeing eye-to-eye in terms of handsets, including a PlayStation-branded phone.

Pressure also exists that stems from Sony Ericsson's own fiscal performance. This past Friday, Sony Ericsson said it would lose between $465 million and $533 million in the first quarter, citing "weak consumer demand" for its cellphones amid the world economic crisis.




by MacNN Staff

toggle

Comments

Login Here

Not a member of the MacNN forums? Register now for free.

toggle

Network Headlines

Follow us on Facebook

toggle

Most Popular

Advertisement

Recent Reviews

ZTE Spro 2 Smart Projector

Home theaters are becoming more and more accessible these days, but maybe you've been a bit wary about buying a home projector. And h ...

MSI Geforce GTX 970 100ME

When Nvidia announced a new line of video cards in September 2014, many people thought things would continue to be business as usual i ...

Wren V5US Wireless Sound System

If you're a music fanatic, chances are you are, by extension, a bit fanatical about what you listen to your music on. If you're like ...

toggle

Most Commented