Business and Finance

Struggling handset maker Sony Ericsson is focusing on a return to profit and increasing its market share, incoming Chief Executive Bert Nordberg told Reuters in an interview.

“I would go for increased market share and restoring profitability,” Nordberg said when asked where he hopes to see Sony Ericsson in 1-2 years’ time.

He said turning to profit “can’t be too far away.”

Sony Ericsson said on Monday Chief Executive Dick Komiyama would retire at the end of the year, with Ericsson executive Nordberg to take the helm effective October 15 payday advance.

The venture has reported steep losses in past quarters and seen its market share slip to below 5 percent.

Nordberg said he would continue ongoing restructuring at the firm and look for a strategic refocus of its product portfolio — the company’s key weakness.

“In this industry you need smash-hit products,” he said. (Reporting by Tarmo Virki)

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