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

To: Eric L who wrote (5037)	8/30/2002 4:15:36 AM
From: elmatador	Read Replies (1) \| Respond to of 5390

Ericsson to pull out if Sony jv doesn't deliver Reuters, Aug 30 2002 STOCKHOLM, Aug 30 (Reuters) - Swedish telecoms equipment maker Ericsson <ERICb.ST> will pull out of handset-making and stop its cooperation with Japan's Sony Corp <6758.T> if their mobile phone joint venture "does not deliver" in the next two or three qurters, a Ericsson spokeswoman said. "The message is clear. We will not make the same mistake again," Ase Lindskog told Reuters on Friday. Sony Ericsson, owned in half by the loss-making Swedish mobile network company and the Japanese consumer electronics giant, was created in October last year and aimed to be profitable in the first year of its operations. But last month Ericsson said the joint venture would make a loss this year and data from Gartner Dataquest showed earlier this week the firm's market share fell to 5.4 percent in the second quarter from 7.7 percent in the second quarter of 2001.