decoy7
Joined: Feb 06, 2002
Posts: > 500
From: NW London
PM |
http://theregister.co.uk/content/68/33417.html
Mobile phone maker Sony Ericsson has reported a third quarter profit after almost two years of continual losses.
The number five phone maker, a joint venture between Japan's Sony and Sweden's Ericsson, posted a €39 million pre-tax profit during its third quarter, beating market forecasts of a loss of around €17.5 million. Net profits amounted to €62 million and the good third quarter numbers beat last year's Q3 net loss of €93 million and the company's €88 million in losses during the second quarter of 2003.
The move into profitability, after almost two years of consistent losses, came on the back of substantially higher sales, which reached €1.3 billion in the most recent quarter, compared to €869 million a year ago and just €1.125 billion during Q2 2003.
It is thought that the much-needed profits were also the result of a focus on efficiency and an improved supply chain. During the second quarter, the London-based firm took a €53 million restructuring charge, mostly related to 500 redundancies that were announced earlier in the year.
"We are encouraged by the improvements achieved during the third quarter and particularly with the high demand for our PDC phones in Japan and the continued success of the T610-series in GSM markets," commented Sony Ericsson president Katsumi Ihara in a statement. "During the quarter we also announced several new products including our first GSM clamshell phones Z600 and Z200, an entry-level phone T230 and a range of new innovative accessories. We have received very positive feedback from customers about these new products." |
Posted: 2003-10-16 00:10
