Sony Ericsson followed Nokia Corp in posting disappointing financial results for the Q3 ended September 30, 2009 with unit shipments sliding down to 14.1 million as compared to 25.7 million a year ago. However on a sequential basis the figures are seen at a positive growth with 13.8 millions.

Revenues were down 42 % from euro 2.8 billion to euro 1.6 billion in Sep’09. On a sequential basis the revenues remained almost stagnant. The company also managed to reduce the loss from euro 213 million in June 2009 quarter to euro 164 million in September 09.

The average selling price incased from euro 109 in September 2009 to 114  in September 2009. The company has cash balance of euro 841 million. The market share was almost 5 % at the end of the quarter under consideration.

The company said that it estimated the global handset market to shrunk by 10 % in the year.

“Our business in the third quarter started to show the effects of our ongoing transformation programme. Having refreshed our brand we are now better positioned to support the launch of new products such as Aino™ and Satio™ in Q4 2009. We have cleared channel inventories, and have continued to realign internal resources and improve efficiency.  We have also arranged external financing to strengthen the company’s financial position,” said Dick Komiyama, outgoing President, Sony Ericsson. “Transforming the business for future growth and returning Sony Ericsson to profitability is the focus of the senior management team and will continue under the new leadership.”