Sony Ericsson Q3 financial results

Sony Ericsson today announced its third quarter financial results. Units shipped in the quarter reached 19.8 million, a 43% increase compared to the same period last year, and approximately double the market growth rate. Sales for the quarter were 2,913 million Euros, representing a year-on-year increase of 42%. Income before taxes was 433 million Euros representing a year-on-year increase of 187%. Net income was Euro 298 million.

''The third quarter saw Sony Ericsson reap the success of hit products announced earlier in the year such as the high-end K800 and W810, mid-range K610 and lower-priced W300 and K310. Our strategy of using flagship products to give Sony Ericsson a lead position within a product category such as imaging with the Cyber-shot megapixel camera phone or music with the Walkman line-up is creating a halo effect over lower-end models in the same category and encouraging new users to try our phones,'' explains Miles Flint, President of Sony Ericsson.

Average Selling Price (ASP) rose sequentially, due to a greater proportion of mid and high priced models in the product mix and the success of the K800 Cyber-shot phone during the quarter.

Sony Ericsson continues to forecast the 2006 global handset market as being above 950 million units. On this basis the company believes it has outperformed the growth rate in the market and gained over 1% point market share this quarter, to reach a global market share of approximately 8%.
10/12/2006 8:22:43 PM
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