Sony Ericsson posts $247M loss amid drop in sales

Sony Ericsson posted a $246 million loss for the fourth quarter, down from a profit of $495 million in the year-ago period, as sales dropped amid weakening consumer demand during the economic recession. The joint venture between Japan's Sony and Sweden's Ericsson had net sales in the quarter of $3.86 billion, down from $5 billion in  fourth quarter 2007, and said it expects a weaker handset market in 2009, especially in the first half of the year.

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