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Technology Stocks : Ericsson overlook? -- Ignore unavailable to you. Want to Upgrade?

To: Eric L who wrote (4720)	5/14/2001 12:02:11 PM
From: Eric L	Respond to of 5390

re: Sony JV >> Ericsson Reaffirms Sony JV To Be Profitable May 14, 2001 Reuters Swedish telecoms equipment maker Ericsson reaffirmed on Monday its mobile phone joint venture with Japanese consumer electronics group Sony Corp. would be profitable from the start of its operations. Earlier on Monday Standard and Poor's rating agency downgraded Ericsson's debt rating to single A minus from single A with a negative outlook saying one of its concerns was that it was highly unlikely that Ericsson would return its loss-making handset division to profit by the target date of October 1. "There are no reasons for us to change what we had said earlier. Sony Ericsson Mobile Communictaions is going to be porfitable from day one, October 1, 2001," Ase Lindskog, Ericsson director for media Relations told Reuters. << - Eric -