Sony Ericsson 2Q Profit Rises 54 PercentSony Ericsson, the world’s fourth-largest mobile phone maker, said Thursday its net profit rose 54 percent in the quarter ended June 30, as it expanded its market share with low and mid-range phones.
The company, a joint venture between Sweden’s LM Ericsson and Japan’s Sony Corp., said net profit rose to euro220 million ($303 million) from euro143 million. Revenues grew 37 percent in the second quarter to euro3.1 billion ($4.3 billion) from euro2.3 billion in the same period a year ago.
Sales in the quarter were boosted by a 59 percent rise in handset shipments to 24.9 million from 15.7 million the previous year.
The London-based mobile phone maker said its global market share grew to more than 9 percent during the quarter, an increase of around 3 percentage points from a year ago.
The company expects to keep expanding its market share this year, Sony Ericsson President Miles Flint said in a statement.
“We expect the market in 2007 to remain competitive, but with recently announced products … we aim to continue to grow faster than the market,” he said.
Sony Ericsson expects the 2007 global market for mobile phones to be more than 1.1 billion units.
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