Blaming destocking by handset distributors and low consumer confidence, Sony Ericsson said its revenues fell 36% to 1.74 billion euros in the first quarter of 2009 compared with the same period in 2008.
Sony Ericsson forecast that the global handset market will contract at least 10% in 2009 from around 1.19 billion units in 2008. source: Sony Ericsson statement
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