Sony Ericsson 2Q Profit Rises 54 Percent
12.07.2007 04:42
Computers
- Source: Forbes
SonyEricsson, the world's fourth-largest mobile phone maker, said Thursday its net profit rose 54 percent in the quarter ended June 30, as it expanded its market share with low and mid-range phones. The company, a joint venture between Sweden's LM Ericsson (nasdaq: ERICY - news - people ) and Japan's Sony Corp. (nyse: SNE - news - people ), said net profit rose to euro220 million ($303 million) from euro143 million. Revenues grew 37 percent in the second quarter to euro3.1 billion ($4.3 billion) from euro2.3 billion in the same period a year ago. Sales in the quarter were boosted by a 59 percent rise in handset shipments to 24.9 million from 15.7 million the previous year. The London-based mobile phone maker said its global market share grew to more than 9 percent during the quarter, an increase of around 3 percentage points from a year ago. The company expects to keep expanding its market share this year, Sony Ericsson (nasdaq: ERIC - news - people ) President Miles Flint said in a statement. "We expect the market in 2007 to remain competitive, but with recently announced products ... we aim to continue to grow faster than the market," he said. Sony Ericsson expects the 2007 global market for mobile phones to be more than 1.1 billion units. Copyright 2007 Associated Press. All rights reserved. This material may not be published broadcast, rewritten, or redistributed
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