Sony Ericsson Mobile Communications AB (Sony Ericsson, London) announced the consolidated financial summary for the second quarter ended June 30, 2004. Units shipped in the quarter reached 10.4 million, a 55% increase compared to the same period last year. Sales for the quarter were €1,504 million, representing a year-on-year increase of 34%. Income before taxes were €113 million and net income was €89 million, which represent year-on-year improvements of €215 million and €177 million, respectively.
Sony Ericsson's average selling price decreased sequentially in line with expectation due to an increase in GSM phones in the overall product mix. The company maintained momentum from the previous quarter, and continued to grow while sustaining a consistent level of profitability. Sony Ericsson is revising its global market outlook for 2004 to approximately 600 million units from its previously stated level of over 550 million.
