Sony Ericsson sees profits jump
Mobile phone manufacturer Sony Ericsson reported a second quarter running of net profits Friday after a period of loss last year, saying it had pushed up prices by focusing on the top end of the
market.
The Japanese-Swedish group, the fifth-biggest player in the global sector, said that in the three months to the end of June, it had made a net profit of €12 million ($15.5 billion) in contrast to a loss of €213 million for the same period last year.
Sales rose by 4.0 percent to 1.76 billion euros, the company said.
But the outcome fell short of the figures expected by analysts who had forecast a net figure of €50 billion and sales of €1.79 billion, on the basis of a poll by Dow Jones Newswires.
Sales and the net outcome had plunged in 2009. Last year the company launched a programme to reduce costs involving an extra loss of jobs amounting to nearly 2,000 cuts.
The group decided to focus on the high end of the market for handsets.
Chief executive Bert Nordberg saiod: "We are now well positioned for long-term growth."
Comments
See Also
market.
The Japanese-Swedish group, the fifth-biggest player in the global sector, said that in the three months to the end of June, it had made a net profit of €12 million ($15.5 billion) in contrast to a loss of €213 million for the same period last year.
Sales rose by 4.0 percent to 1.76 billion euros, the company said.
But the outcome fell short of the figures expected by analysts who had forecast a net figure of €50 billion and sales of €1.79 billion, on the basis of a poll by Dow Jones Newswires.
Sales and the net outcome had plunged in 2009. Last year the company launched a programme to reduce costs involving an extra loss of jobs amounting to nearly 2,000 cuts.
The group decided to focus on the high end of the market for handsets.
Chief executive Bert Nordberg saiod: "We are now well positioned for long-term growth."
Join the conversation in our comments section below. Share your own views and experience and if you have a question or suggestion for our journalists then email us at [email protected].
Please keep comments civil, constructive and on topic – and make sure to read our terms of use before getting involved.
Please log in here to leave a comment.