Nokia and Sony Ericsson profits take a dive

The handset market has not been easy for everyone: former leaders Nokia and Sony Ericsson are having a hard time posting good numbers, although, Nokia has managed to earn $380M (-65%) while Sony Ericsson was posting a loss of $299M.

Nokia has had difficulties in developed countries as the coolness of its brand is eroding. The company has engaged in a wide range of initiatives (OS, store, handsets) to change course, but this will likely take at least a couple of years to form.

Sony Ericsson is in deep trouble: it does not have a good way of taking the lead in terms of software or handset design.

Filed in Cellphones. Read more about Finance, Nokia and Sony Ericsson.

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