Sony Ericsson says 1Q net profit fell 48 per cent, sales were lower
Mobile phone maker Sony Ericsson on Wednesday reported a 48 drop in first-quarter net profits, citing slower sales growth in some of its markets.
By Agencies |
STOCKHOLM/ SWEDEN: Mobile phone maker Sony Ericsson on Wednesday reported a 48 drop in first-quarter net profits, citing slower sales growth in some of its markets.
Last month, shares in the LM Ericsson AB and Sony Corp. joint venture plummeted more than 7 percent after it warned that falling growth in the market for mid- and high-range handsets would hurt its results in the first quarter.
Net profit for the three-month period ended on March 31, came to euro133 million (US$212 million), down sharply from euro254 million in the same quarter last year.
First-quarter sales fell to euro2.7 billion (US$4.3 billion), compared with euro2.9 billion in the year-ago period.
Shipped units, which it had already warned would be lower this quarter, reached 22.3 million, more or less in line with the predicted 22 million units.
Last month, shares in the LM Ericsson AB and Sony Corp. joint venture plummeted more than 7 percent after it warned that falling growth in the market for mid- and high-range handsets would hurt its results in the first quarter.
Net profit for the three-month period ended on March 31, came to euro133 million (US$212 million), down sharply from euro254 million in the same quarter last year.
First-quarter sales fell to euro2.7 billion (US$4.3 billion), compared with euro2.9 billion in the year-ago period.
Shipped units, which it had already warned would be lower this quarter, reached 22.3 million, more or less in line with the predicted 22 million units.
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