Ericsson Will Provide Financial Support for Sony Ericsson

Ericsson, the biggest telecom equipment maker globally recently announced that it’ll provide financial support for Sony Ericsson, in case this is needed. The Swedish-Japanese company (Ericsson + Sony) has just announced a loss of 370 million euros for Q1 2009 and also claims that it’ll cut up to 2000 jobs this year.

Sony Ericsson is the fourth handset maker in the world and its experts predict a 10% decrease of the mobile phone market, in 2009. Ericsson is in standby mode, ready to let the cash flow in if necessary, in spite of the rumours that the two companies are splitting up.

Also, Ericsson officials stated that they’re not worried about the European carriers’ tendency to use the same infrastructure together, since the business is doing well in the US, Japan and China.

[via pescurt.ro]

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Tags: cash flow, cut jobs, Ericsson, financial support, loss, market decrease