Sony Ericsson saw net profit more than double during its Q1, thanks to strong sales of its camera and music handsets in Europe. Net profit rose to $345.6 million as revenue grew by 47 percent to €2.93 billion. Handset shipments rose 64 percent, from 13.3 million during the same period last year to 21.8 million during the first quarter.
Analysts noted that neither Nokia nor Sony Ericsson reported an increase in handset market share, despite that fact that Motorola just announced a decline in market share to some 17 percent. An IDC report claimed that Sony Ericsson saw the largest year-on-year handset shipment growth, citing improvement in Europe, APAC and Latin America for its low and mid tier portfolio. Sony Ericsson cited its partnerships with Foxconn and Flextronics to manufacture phones for the emerging markets as key drivers of its growth.
For more on Sony Ericsson's Q1:
- see this WSJ article (sub. req.)