Sony Ericsson sees profits halved in first quarter

April 23rd, 2008

“Sony Ericsson, the Swedish-Japanese mobile phone maker, said on Wednesday its profits plunged in the first quarter as its average sale price fell due to its reorientation towards low and mid-end phones.

In the first three months of the year, the group registered a net profit of 133 million euros (212 million dollars), down by 47.6 percent from 254 million euros a year earlier.

Sales dipped by 7.6 percent in terms of value to 2.7 billion euros during the period.

Sony Ericsson, the world’s fourth-biggest mobile phone manufacturer, sold 22.3 handsets during the period at an average selling price of 121 euros, compared to 21.8 million at 134 euros last year.”

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