Sony Mobile records 12.4 per cent fall in revenues in year to end-March

Sony Mobile – the former Sony Ericsson – has reported a 12.4 per cent fall in revenues of €5.39 billion (US$7 billion) for the full year to the end of March 2012.

The company said that the decline in revenues reflects certain component shortages resulting from the Japanese earthquake and the floods, in addition to the lower number of feature phones shipped as a result of focusing on smartphones.

The company also posted a net loss of €1.145 billion for the whole year – compared to a profit of €74 million in 2011.

This was primarily due to Sony Ericsson recording a valuation allowance of €654 million against certain of its deferred tax assets in Sweden in the quarter ended December 31, 2011, as well as deterioration in its income (loss) before taxes.

On February 15, 2012, Sony acquired Ericsson’s 50 per cent equity interest in Sony Ericsson, which changed its name to Sony Mobile.