Skip to main content

Sony Ericsson reports surprise profit

Sony Ericsson has reported a surprise profit for the first three months of the year, boosted by new product launches and cost savings.
Net profit came in at 21m euros ($28m; £18m), compared with a loss of 293m euros a year earlier.
The unexpected profit came despite mobile phone sales being 28% lower from a year ago at 10.5 million phones.
Sony Ericsson is playing catch up with other mobile makers that were quicker to launch smartphones.
Falling sales
"We are pleased to see the positive impact of both the launch of new products and the business transformation programme improving the company's results," said Bert Nordberg, president of Sony Ericsson.
He picked out the company's new Experia X10 and Vivaz products as being particularly well received.
Despite the launches, sales over the quarter fell to 1.74bn euros compared with 1.41bn euros for the same period a year ago.
Improved margins and cost-cutting also helped to improve profitability.
Sony Ericsson reported a net loss of 836m euros for 2009 as a whole.
The mobile phone market has been hit by the global downturn, as consumers hold off from buying new phones.
Sony Ericsson has also been caught off guard by the switch to smartphones - the one area of the market where sales have been growing.

Popular posts from this blog

Love, Sex and Adultery in Ancient Egypt

Women had more freedom than their counter parts in Mesopotamia, for instance, but never as much as Paris Hilton and pals. Egyptians married young, very young indeed, and, in royal families, between themselves. Childbirth was dangerous but encouraged in ancient Egypt - prosperity was a goal for everyone and that included having a big family. The love and sex lives of the Egyptians were as complicated as they are today. Turin's famous Erotic Papyrus assures us that the Egyptians were sexually adventurous, with a penchant for naked belly-dancing, and collections of love poetry from the Amarna era reveal that they were also big romantics. According to Angelina Jolie in recent news “fidelity is not essential in her relationship with Brad Pitt”, but adultery is one of the oldest reasons for divorce, death and depression - the 3 D’s - and in ancient Egypt as in most of the modern world, women often still file for divorce on the grounds of adulte...

Born poor, now self-made billionaires - Ed Liddy

Ed Liddy, former chief executive officer of American International Group (AIG ) had to face lot of hardships before he rose to great heights. Ed Liddy's father died when he was just 12 years old. According to a BusinessWeek report, he had a poverty-stricken childhood. Liddy graduated from Catholic University of America in 1968 and received a master's degree in business administration from George Washington University in 1972. He worked with Ford Motor before joining G D Searle & Co in 1981. The 63-year old Liddy earned about $130 million during his eight-year tenure at Allstate. In the wake of the financial crisis, Ed Liddy came to rescue the ailing AIG, worked for a salary of $1. But the act turned disastrous when the company handed out employee bonuses totally $165 million after it had accepted $170 billion in government bailout funds. This forced him to quit AIG.

Travel Geneva

Geneva is a world city, a city characterised by its cosmopolitan population. People come here for many reasons, from humanitarian commitments, attending trade fairs and festivals to diplomatic and cultural activities. Geneva can be considered as the world's smallest metropolis and the headquarters of some of the most prestigious organizations in the world such as The Red Cross and European HQ of the United Nations. The town is situated in the laps of nature. A stroll within the city limits, along the shores of the lake with its famous water jet or up into the Old Town are sure to stay in your memories for a long time. Geneva has a very vibrant and multi-cultural night life. As and when the enjoyment reaches its peak, you are sure to feel that you are in France. Why Visit Geneva? European United Nations and Red Cross HQ Famous water jet in the lake 2000 years old Cultural and historical centre Trade Fairs and Festivals. Renowned for Cuisine and Wine. Lugano Tourism ...