Sony Ericsson Upbeat as Q1 Beats Forecast
Sony Ericsson, the world’s fifth largest mobile phone maker beat market expectations by more than doubling first-quarter pre-tax earnings and giving an upbeat 2006 forecast for the global handset market.
Its first quarter pre-tax profit was US$183.6 million, 7.6 percent of sales.
The group said it had benefited from a broadening portfolio of phones by adding to its Walkman range of music handsets, introducing a cheaper clamshell phone and shipping high-end models to top Japanese operators.
The firm, owned by Sweden’s Ericsson and Japan’s Sony Corp., said growth was buoyant in all areas, including emerging and developed markets. This echoes earlier optimism expressed by market leader, Nokia.