Sony Ericsson Reports Sustained Growth in Sales and Profits
Sony Ericsson Mobile Communications AB (Sony Ericsson, London), the joint venture of Sony and Ericsson, announced the consolidated financial summary for the fourth quarter and fiscal year ended December 31, 2004.
Units shipped in the quarter reached 12.6 million, a 56% increase compared to the same period last year. Sales for the quarter were €2,005 million, representing a year-on-year increase of 40%. Income before taxes was €140 million and net income was €55 million, which represent year-on-year improvements of €94 million (204%) and €12 million (28%) respectively.
"2004 was a good year for Sony Ericsson as the company established profitability and entered into a growth phase in its development," said Sony Ericsson President Miles Flint. "The fourth quarter continued a trend of expansion in both volume and sales, showing the company's ability to effectively compete in this dynamic market. Strong growth in the fourth quarter was led by good up-take of our latest third-generation UMTS phone, which has laid the groundwork for future expansion of our third-generation portfolio."