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 ($155 million).
Ericsson has been losing money on mobiles since the second quarter of 2000, citing component shortages and an uncompetitive product mix. As the losses mounted, pressure grew on Ericsson to sell or merge the handsets division with another mobile phone manufacturer. “Ericsson has decided to team up with Flextronics and transfer its complete supply chain for mobile phones ... leading to a rapid improvement of economies of scale a much smaller capital exposure and reduced risk,” Ericsson said in a separate statement. Ericsson also signed another agreement with Taiwan’s GVC to develop and produce phones.
Šaltinis:
msnbc.com
Copying, publishing, announcing any information from the News.lt portal without written permission of News.lt editorial office is prohibited.
The most popular articles
On 31 August 2009 in a non-public way AB Bank SNORAS issued the emission of perpetual debt securities included into the bank capital amounting to LTL 72.5 million.
more »
The European Commission, through its longstanding cooperation with the US and Canada, announces the launch of 33 new and innovative projects involving universities and training institutions on both sides of the Atlantic.
more »
Today at the VII World Congress on Alternatives and Animal Use in the Life Sciences in Rome, the European Commission and the European cosmetic industry presented their joint financial effort for research into alternative safety testing methods.
more »
SEB Bank, the largest bank in Lithuania, invests almost LTL 4.6 million in to the upgrade of its data transmission network.
more »
The World Bank’s Board of Executive Directors today approved a credit of US$ 36.6 million equivalent of additional financing for the Lifeline Road Improvement Project for Armenia.
more »
The Executive Board of the International Monetary Fund (IMF) today completed the first review of Latvia's performance under an economic program supported by a 27-month Stand-By Arrangement.
more »
The Commission has today decided to close the formal investigation procedure into the privatisation and restructuring of Austrian Airlines concluding that the restructuring following its sale to Lufthansa is compatible with community law.
more »
Ben Bernanke's reappointment as head of the Federal Reserve did not come as a surprise, but Wall Street still responded with the proverbial thumbs up.
more »
Over I half-year 2009 accommodation establishments had by 22 per cent less guests.
more »
In the first such transaction in Russia, carbon credits generated by utilising gas which would otherwise be flared at an oilfield in eastern Siberia are to be purchased through a carbon fund set up by the EBRD and the European Investment Bank (EIB), the Multilateral Carbon Credit Fund (MCCF).
more »