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Friday, April 16, 2010

Sony Ericsson’s quarterly figures show a return to profit

Sony Ericsson is back in profit, reporting a net income of 21 million Euro for Q1 2010. That contrasts with a 167 million Euro loss in the previous quarter and a 293 million Euro loss in Q1 2009.

However, the number of units shipped has fallen 28% year-on-year from 14.5 million to 10.5 million – and sales figures have dropped 19% from 1.7 billion Euro to 1.4 billion Euro in the same period. The company says the reduction in shipments reflects streamlining of its handset portfolio over the past 12 months to focus on higher-end phones.

Bert Nordberg, Sony Ericsson's president, said "We are pleased to see the positive impact of both the launch of new products and the business transformation programme improving the company’s results. Increases in both gross and operating margins show that we are on the right track to build the correct cost structure for our business organization and strategy. We will continue to work through the transformation programme to ensure that we are competitive."

In addition, Sony Ericsson has announced a new Chief Financial Officer today. William 'Bill' Glaser, former Sony Corporation Vice President and Head of Sony Group Risk Office, will succeed current CFO Ulf Lilja. Mr Lilja has been in the role for five years and will return to work at Ericsson.

[PDF financial document]

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Author: The Fonecast
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