Sony Ericsson may need USD1.3bn bailout

Fri May 8 2009, 16:10 PM

Struggling handset maker Sony-Ericsson may have to ask parent companies Sony and Ericsson for as much as USD1.3bn in cash by the end of the year, according to the Financial Times. Despite efforts to cut costs, the company lost USD384m in Q1 and saw a 35% plunge in quarterly sales. The company’s global market share fell to 6%, making it the fourth-largest handset maker worldwide behind Nokia, Samsung and LG.

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