Sony and Ericsson inject EUR 300 million in Sony Ericsson

29 January 2003
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Technical details:
• Ericsson R380
• Ericsson R520
• Ericsson R600
• Ericsson T29s
• Ericsson T39
• Ericsson T60d
• Sony Xperia A
• Sony Xperia Acro S
• Sony Xperia Advance
• Sony Xperia C
• Sony Xperia E
• Sony Xperia E Dual
• Sony Xperia E1
• Sony Xperia E1 Dual
• Sony Xperia Ion LT28at
• Sony Xperia J
• Sony Xperia L
• Sony Xperia M2
• Sony Xperia Miro
• Sony Xperia Neo L
• Sony Xperia P
• Sony Xperia S
• Sony Xperia SL
• Sony Xperia Sola
• Sony Xperia SP
• Sony Xperia SX
• Sony Xperia T
• Sony Xperia T2 Ultra
• Sony Xperia Tipo
• Sony Xperia Tipo Dual
• Sony Xperia TL
• Sony Xperia TX
• Sony Xperia U
• Sony Xperia V
• Sony Xperia VL
• Sony Xperia Z
• Sony Xperia Z Ultra
• Sony Xperia Z1
• Sony Xperia Z1 Compact
• Sony Xperia Z2
• Sony Xperia ZL
• Sony Xperia ZQ
• Sony Xperia ZR

From the forum:
Sony and Ericsson Announce Eur 300 million Capital Injection to Sony Ericsson Mobile Communications and Report the Joint Venture's Fourth Quarter Results
Tokyo and Stockholm, January 29
Sony and Ericsson today announced that the two companies have decided to make an additional capital injection to their 50:50 jointly owned Sony Ericsson Mobile Communications, AB ("SEMC").

In order to strengthen SEMC's capital structure and support business expansion, Sony and Ericsson have decided that during the quarter ending March 31, 2003, each company will contribute Eur 150 million to SEMC. This capital injection represents the continuing commitment of Sony and Ericsson to the joint venture.

SEMC estimates that approximately 115 million units were sold (sell-through) in the total market during the fourth quarter and approximately 395 million during the full year of 2002, compared with approximately 390 million in 2001. SEMC forecasts that total market sales will be approximately 435 million units during 2003, representing year-on-year growth of about 10%.

Sony and Ericsson today also announced SEMC's fourth quarter results ended December 31, 2002. Units shipped in the quarter reached 7.1 million, which is 4% higher year-on-year and 42% higher compared to the third quarter. Net sales for the quarter were Eur 1,235 million, representing year-on-year and sequential increases of 18% and 42%, respectively. Income before taxes in the quarter was Eur -77 million and net income was Eur -69 million, which represent year-on-year improvements of Eur 75 million and Eur 70 million, respectively.

Note: As a 50:50 joint venture, 50% of SEMC's results are reported by Sony and Ericsson as a joint venture accounted for under the equity method.

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