Swedish mobile manufacturer Ericsson may be running out of patience with its handset joint venture with Sony. According to a report in The Wall Street Journal, Ericsson’s CEO, Kurt Hellstrom, has warned that he will not continue ‘pouring money’ into the venture unless sales of its products improve quickly.
Hellstrom is quoted as saying that his company wants to see real acceptance of the new range of handsets within the next two quarters, or he may be forced to pull out of the loss-making venture. Recent reports from the Swedish giant indicate that it may have to back the venture to the tune of EUR 500 million over the next twelve months.