Sony Ericsson reports strong Q1 results
Sony Ericsson is one of the first handset makers to report their first quarter results, but investors and other makers hope that the rest of the results in this reporting period are as good as theirs are. The company reported that their net profits were well over three times more than they were in the same quarter last year. They reported a net profit of $132 million, up from $39 million in 2005. Helping those impressive results was a 55% increase in quarterly sales to $2.42 billion.
The London-based joint venture between Sony and Ericsson increased the number of handsets shipped from 9.4 million in Q1 2005 to 13.3 million this year. That’s a jump of 41%. Like Nokia, Sony Ericsson also saw the average selling price of their phone increase. It went from $166 in the fourth quarter of 2005 to $181 this quarter. That upward trend will make industry watchers and investors especially happy.