Sony Ericsson Reports Continued Growth in Sales and Profit

October 13, 2004 by Jeff Shepard

Sony and Ericsson announced the consolidated financial summary for the third quarter ended September 30, 2004, of Sony Ericsson Mobile Communications AB (Sony Ericsson, London) the joint venture of Sony and Ericsson. Units shipped in the quarter reached 10.7 million, a 51% increase compared to the same period last year.

Sales for the quarter were &euro1,678 million, representing a year-on-year increase of 29%. Income before taxes was &euro136 million and net income was € 90 million, which represent year-on-year improvements of &euro97 million (249%) and &euro28 million (45%), respectively. The company maintained its momentum from the first half of the year, generating profitable growth. Sony Ericsson's average selling price increased sequentially in line with company expectations due to new mid- and high-end Japanese and GSM products beginning to ship.