Profits double for Sony Ericsson

Profits at Sony Ericsson doubled in the first quarter, with pre-tax profits standing at €362 million for January to March, compared to €151 million in the same period last year.

Sales by the Swedish-Japanese mobile phone maker rose to €2.9 billion from €2.0 billion in the first quarter of 2006.

“Sony Ericsson has started the year very positively, with a large sales increase in the first quarter compared to a year ago,” said CEO Miles Flint in a statement.

“The company is continuing to develop models to attract both consumers and operators,” he added.

The company writes in its report that it is gaining market share and expects to continue to take ground from its competitors. Sales have increased in Asia, Latin American and Europe, due mainly to successes with cheap and medium-priced models.

The average price per sold handset has fallen from €134 to €149. Despite this, the company’s margins have increased over the year. The company delivered 21.8 million phones during the quarter, an increase of 63 percent compared with the same period last year.