SONY ERICSSON’S Q3 RESULTS
Sony Ericsson reported 10.4 million handset units sold in the third quarter, down 26 percent from the same period last year. The decline was mostly attributed to component shortages. However, President Bert Nordberg claimed responsibility for a cautious, low-risk strategy that failed to account for rising consumer demand. Nordberg said the company has adjusted for higher volumes in the fourth quarter. Revenue for Q3 was EUR1.6 billion, one percent less than last year. Net income for the quarter was EUR49 million, compared with a loss of EUR164 million in Q3 2009. “Our third consecutive quarter of profitable results illustrates that Sony Ericsson’s overall performance is stabilizing,” Bert Nordberg said. The company announced Friday that it will cease to use the Symbian operating system in favor of Android. “To expand in the smartphone market, Android is best for us,” Nordberg said. FT writes that the average selling price of Sony Ericsson’s mobiles has fallen and is expected to decline further in the fourth quarter, according to the company’s finance director Bill Glaser. The Swedish press, however, focused on the aim to be number one on the smartphone market. Nordberg said that with Android the company plans to increase its position in the US and China with a “leading edge product”. We will have a tablet PC in our product offering to mobile operators, Nordberg said.
Sony Ericsson reported 10.4 million handset units sold in the third quarter, down 26 percent from the same period last year. The decline was mostly attributed to component shortages. However, President Bert Nordberg claimed responsibility for a cautious, low-risk strategy that failed to account for rising consumer demand. Nordberg said the company has adjusted for higher volumes in the fourth quarter. Revenue for Q3 was EUR1.6 billion, one percent less than last year. Net income for the quarter was EUR49 million, compared with a loss of EUR164 million in Q3 2009. “Our third consecutive quarter of profitable results illustrates that Sony Ericsson’s overall performance is stabilizing,” Bert Nordberg said. The company announced Friday that it will cease to use the Symbian operating system in favor of Android. “To expand in the smartphone market, Android is best for us,” Nordberg said. FT writes that the average selling price of Sony Ericsson’s mobiles has fallen and is expected to decline further in the fourth quarter, according to the company’s finance director Bill Glaser. The Swedish press, however, focused on the aim to be number one on the smartphone market. Nordberg said that with Android the company plans to increase its position in the US and China with a “leading edge product”. We will have a tablet PC in our product offering to mobile operators, Nordberg said.
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