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Sony Ericsson introduces financial report for Q3 2003: profitable after two years of losses

Sony Ericsson (Sony Ericsson Mobile Communications AB), the joint venture of Sony and Ericsson dedicated to mobile phones, announced financial report for Q3 2003 that finished on September 30. This quarter brought Sony Ericsson the first profits after two years of losses.

In the 3rd fiscal quarter Sony Ericsson shipped 7.1 million handsets that exceeds the values of 3rd quarter of 2002 by 42%. Sales volume made 1.305 billion euros that is 50% more that year ago. At that in the primary fields in GSM areas and in Japan — sales volumes increased by 73% and 130%, respectively. The company relates the success to increased demand for comprehensively featured mobile phones like T610. The net profit for this quarter made 62 million euros (compariing to 88 million losses of the previous quarter).

Sony Ericsson plans to remain profitable, according to the results for H2 2003. The main strategy changes will be focused on increasing sales of inexpensive phones. Currently the average price for a Sony Ericsson handset is about 184 euros that is one of highest in the whole industry.

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