Sony Ericsson reports profit for 3rd consecutive quarter
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Sony Ericsson Mobile Communications AB (Sony Ericsson) Friday reported to be profitable for the third consecutive quarter this year, according to a statement from the company.
Net income for the quarter was 49 million euros (about 69 million U.S. dollars), an increase of 213 million euros (about 300 million dollars) year-on-year.
"Our third consecutive quarter of profitable results illustrates that Sony Ericsson's overall performance is stabilizing," Bert Nordberg, President & CEO of Sony Ericsson, said in the statement.
"Our strategy to focus on the smartphone segment is succeeding and smartphones now comprise more than 50 percent of our total sales," Nordberg added.
The turnover for the quarter fell slightly to 1.60 billion euros (about 2.25 billion dollars) from euro1.62 billion in 2009 and was down 9 percent compared to the second quarter of 2010, the group said.
Sony Ericsson is a 50:50 joint venture by Sony and Ericsson established in October 2001, with global corporate functions located in London and operations in all major markets.
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