- The Washington Times - Friday, March 20, 2009

NEW YORK (AP) - Shares of cell phone makers and their suppliers declined Friday after the fourth-largest phone maker, Sony Ericsson, warned that demand keeps falling.

U.S.-listed shares of LM Ericsson AB, which owns part of the joint venture, fell 97 cents, or 10 percent, to $8.33 in afternoon trading. Shares of Sony Corp., the other partner, fell 50 cents, or 2.4 percent, to $20.02.

Sony Ericsson said it expected to report selling 14 million handsets in the first quarter, down 36 percent from a year ago.

Tavis McCourt, an analyst at Morgan Keegan, said that Sony Ericsson’s report may force him to reconsider his own forecast for a 20 percent year-over-year drop in sales at Nokia Corp., the world’s largest maker of cell phones.

Nokia shares fell 92 cents, or 7.6 percent, to $11.11.

Motorola Corp., the largest U.S.-based handset maker, saw its shares fall 11 cents, or 2.7 percent, to $3.96.

The stock of Texas Instruments Corp., which makes chips for phones, fell 77 cents, or 4.6 percent, to $15.83.

Shares of Flextronics International Ltd., which assembles phones, fell 18 cents, or 7.1 percent, to $2.37.

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