Sony Ericsson returns to profitability in first quarter of 2010

Dave Bailey, Computing, Friday 16 April 2010 at 15:28:00

But revenue down nearly a fifth from last quarter

Sony Ericsson released its first-quarter 2010 results today, returning to
profitability after disastrous 2009 results.

The mobile communications vendor showed profits of ?21m (�18m) in Q1 2010,
compared with the last quarter of 2009 when it posted a loss of ?167m.

However, Sony Ericsson's revenue fell almost 20 per cent to ?1.4bn from
?1.7bn in the same quarter for 2009.

Sony Ericsson president Bert Nordberg said the 28 per cent fall in mobile
devices shipped ? at 10.5 million ? compared with the same period last year,
reflected the streamlining of the portfolio over the past 12 months to focus on
higher-end phones.

At the same time as reporting its latest financial results, Sony Ericsson is
to replace its chief financial officer Ulf Lilja with ex-Sony Corporation vice
president William 'Bill' A Glaser Jr. Lilja will return to partner Ericsson at
the end of July.

Sony Ericsson is a 50:50 joint venture by Sony and Ericsson which was set up
in October 2001.

Full story at http://www.computing.co.uk/computing/news/2261475/sony-ericsson-returns