Editions:  Austria · Denmark · France · Germany · Italy · Norway · Spain · Sweden · Switzerland

Sony Ericsson sees profits jump

Share this article

09:48 CEST+02:00
Mobile phone manufacturer Sony Ericsson reported a second quarter running of net profits Friday after a period of loss last year, saying it had pushed up prices by focusing on the top end of the

market.

The Japanese-Swedish group, the fifth-biggest player in the global sector, said that in the three months to the end of June, it had made a net profit of €12 million ($15.5 billion) in contrast to a loss of €213 million for the same period last year.

Sales rose by 4.0 percent to 1.76 billion euros, the company said.

But the outcome fell short of the figures expected by analysts who had forecast a net figure of €50 billion and sales of €1.79 billion, on the basis of a poll by Dow Jones Newswires.

Sales and the net outcome had plunged in 2009. Last year the company launched a programme to reduce costs involving an extra loss of jobs amounting to nearly 2,000 cuts.

The group decided to focus on the high end of the market for handsets.

Chief executive Bert Nordberg saiod: "We are now well positioned for long-term growth."

Get notified about breaking news on The Local

Share this article

The Local is not responsible for content posted by users.
Become a Member or sign-in to leave a comment.

From our sponsors

The ‘fairytale' boarding school nestled in a Swedish village

The words ‘boarding' and ‘school' often summon images of strict teachers, drab dormitories and downcast children. That image couldn't be further from reality at Sigtunaskolan Humanistiska Läroverket (SSHL), where boarders describe the ‘fairytale' school as a home away from home.

Advertisement