Swedish firm reports operating loss of $155 million
Published:
30 January 2001 y., Tuesday
Swedish telecoms equipment maker Ericsson said on Friday it was pulling out of making its own mobile phones after reporting a fourth-quarter group operating loss of 1.5 billion Swedish crowns ($155 million).
Ericsson has been losing money on mobiles since the second quarter of 2000, citing component shortages and an uncompetitive product mix. As the losses mounted, pressure grew on Ericsson to sell or merge the handsets division with another mobile phone manufacturer. “Ericsson has decided to team up with Flextronics and transfer its complete supply chain for mobile phones ... leading to a rapid improvement of economies of scale a much smaller capital exposure and reduced risk,” Ericsson said in a separate statement. Ericsson also signed another agreement with Taiwan’s GVC to develop and produce phones.
Šaltinis:
msnbc.com
Copying, publishing, announcing any information from the News.lt portal without written permission of News.lt editorial office is prohibited.
The most popular articles
European conference promotes regional solutions to global challenges.
more »
Iceland‘s low-fare airline Iceland Express will launch regular flights by the new-generation „Boeing 737-700“ planes to about 8 different destinations from Vinius International Airport.
more »
Over 3 million people around the world have lost their jobs due to the financial crisis and, according to the UN, economic recovery is unlikely to reach those that have suffered most - poor women and children.
more »
The European Commission has today decided not to raise any objections to the public financing of infrastructure developments at three Lithuanian airports – Vilnius, Kaunas and Palanga International Airports.
more »
The European Commission has published the results of a public consultation launched in June 2009 on whether and how deadlines should be set for the migration of existing national credit transfers and direct debits to the new Single Euro Payments Area (SEPA) payment instruments.
more »
A favourable climate for innovation in the EU can speed up the transition to an eco-efficient economy and increase Europe’s global competitiveness.
more »
The International Monetary Fund (IMF) and the Deutsche Bundesbank have signed an agreement to provide the Fund with up to the equivalent of €15 billion (about US$22 billion).
more »
Today the European Central Bank is publishing a report entitled “Euro Money Market Survey 2009”, which illustrates the main developments in the euro money market in the second quarter of 2009, in comparison with the second quarter of 2008.
more »
New EU laws proposed for closer oversight of financial services industry, sending a strong signal to this week's G20 summit.
more »
The European Commission has repeatedly underlined that the restructuring plan of new Opel Europe must guarantee that the company will be viable in the future.
more »