Sony Ericsson reports profit, record shipments

Sony Ericsson reports profit, record shipments

Sony Ericsson Mobile Communications has posted a profit for the third consecutive quarter, due to record demand for its mobile phones and ongoing restructuring efforts.

The Swedish handset maker reported a third-quarter net profit of $US100 million as of March 31, the last day of the quarter being reported, on sales of $US1.56 billion. In the first three months of 2003, the company made a net loss of $US124.67 million on sales of $US966.15 million. It shipped 8.8 million handsets, up 63 per cent on the year-ago quarter. This figure is an all-time high for Sony Ericsson, a 50-50 joint venture between Japan's Sony and Sweden's Ericsson.

The company revised its estimate for the size of the global mobile phone market for 2004 to more than 550 million units, up from its previous estimate of 520 million units.

Last week, two of Sony Ericsson's largest rivals, Nokia and Samsung Electronics, announced their results for the first three months of this year. Nokia reported a 16 per cent year-on-year decline in first-quarter net profit, to $US978 million, on sales of $US7.91 billion, which were down 2 per cent from the same period a year earlier.

In contrast, Samsung said strong sales of high-end handsets helped it achieve a 52 per cent year-on-year jump in unit shipments for the quarter, to 20.1 million.

Like Sony Ericsson, Samsung also raised its total market size prediction for 2004.

The Seoul-based company, had predicted the worldwide market for mobile phones would be 510 million units, but now expected a total of 560 million handsets to be shipped this year.

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