Sony Ericsson; profits down, market share up

Sony Ericsson, a joint-venture between Japan's Sony and Sweden's Ericsson, increased the number of handsets it shipped during the fourth quarter by 18 per cent year-on-year to 30.8 million, but net profit fell 17 per cent due to higher operating costs as it expanded its handset portfolio in emerging markets. The company says it is still aiming for the number three spot and its current momentum makes this goal realistic and achievable. The key numbers were: operating costs rose to €724 million from €623 million, and net profit fell to €373 million from €447 million. The net profit was actually higher than analysts expected so the news was reasonably well received by the markets. Sony Ericsson sold more than 100 million phones in fiscal year 2007, increasing its share of the global handset market by two points to 9 per cent.

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