Sony Ericsson Swings To Loss In Second Quarter

Sony Ericsson swung to a second-quarter net loss on Friday. Sony Ericsson, owned 50-50 by Ericsson ERIC and Sony Corp SNE posted a Q2 pretax loss of 42 million euros ($59 million), versus an average forecast for a 4.9 million profit. Its revenue also dropped to EUR1.19 billion from EUR1.76 billion. Sony Ericsson sold 7.6 million phones during the quarter, down from estimates of 8 million to 11 million. The average price per handset dropped to EUR156 from EUR160.