"Ericsson has had difficulties in understanding what creates value for the consumer," said Allan T. Malm, a professor who heads entrepreneurial studies at Lund University in southern Sweden.
The result: Nokia earned US$4.5 billion on its mobile phones last year, while Ericsson lost US$2.25 billion on its handsets. Sony doesn't break out earnings figures for its phone division.
Nokia's shares have doubled in the past three years, while Ericsson has added 4.3 percent and Sony has slid 3.3 percent.
The Japanese company had to recall more than 1.1 million handsets because of software glitches and faulty batteries. The recalls hurt the Sony brand and cost the company a charge of ?13.1 billion (US$111.7 million) in the three months ended June 30.
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