Sony Ericsson looking for $135.5m bailout
And it may look to parent companies to supply it
Sony Ericsson may seek a new funding injection of more than $135.5 million in the coming months, according to a Sony spokesperson talking to Reuters.
Where would the cash injection come from? Sony itself and its partner in the joint-venture, Ericsson, would be one option, while bank loans are apparently another.
In truth, the news isn't a huge surprise - ever since Sony Ericsson's poor Q1 results, there have been rumours of such a bailout.
In fact, $135.5 million would be getting off relatively lightly given previous speculation that the two parent companies would need to stump up half a billion Euros each to support Sony Ericsson.
Although finance is clearly an issue for the handset maker, which is cutting costs across the company, what's equally important is a coherent product strategy going forward, to regain its mojo.
