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Ericsson won`t leave Sony Ericsson: Board member
Stockholm, Sept 29: Sweden`s Ericsson has no intention of leaving its mobile handset joint venture Sony Ericsson, contrary to some speculation, Sony Ericsson board member Goran Lindahl said in a newspaper report
Stockholm, Sept 29: Sweden's Ericsson has no intention of leaving its mobile handset joint venture Sony Ericsson, contrary to some speculation, Sony Ericsson board member Goran Lindahl said in a newspaper report
"I can promise I have never heard any discussion about that. Now we have the right telephone models and the market is starting to grow," he said in the Web edition of Monday's Dagens Industri business daily.
"There have previously been unreasonable expectations from analysts and the market that the cooperation would yield results overnight," said Lindahl, the former chief executive of Swiss-Swedish engineering giant ABB.
Ericsson owns 50 percent of the loss-making handset maker, while Japan's Sony owns the other half. In the red since its inception in October 2001 except for one break-even quarter, Sony Ericsson has been under severe pressure from its parents to deliver results. Some analysts have speculated that unless Sony Ericsson becomes profitable soon Ericsson could exit the joint venture.
The firm forecast in July a full-year loss as previously expected because of losses in the first half and restructuring costs. It has a global market share of some six percent.
Dagens Industri also said Ericsson would warn around a fourth of its 270 employees in Copenhagen about possible redundancies. Staff and executives would start discussing the job cuts on Monday, the paper said.
"There have previously been unreasonable expectations from analysts and the market that the cooperation would yield results overnight," said Lindahl, the former chief executive of Swiss-Swedish engineering giant ABB.
Ericsson owns 50 percent of the loss-making handset maker, while Japan's Sony owns the other half. In the red since its inception in October 2001 except for one break-even quarter, Sony Ericsson has been under severe pressure from its parents to deliver results. Some analysts have speculated that unless Sony Ericsson becomes profitable soon Ericsson could exit the joint venture.
The firm forecast in July a full-year loss as previously expected because of losses in the first half and restructuring costs. It has a global market share of some six percent.
Dagens Industri also said Ericsson would warn around a fourth of its 270 employees in Copenhagen about possible redundancies. Staff and executives would start discussing the job cuts on Monday, the paper said.