www.WirelessFederation.com/news: A net profit of EUR 21 million against a loss of EUR 293 million a year earlier has been announced by handset maker Sony Ericsson. The launch of new products such as the Xperia X10 and Vivaz has been cited as the reason behind the good performance.
Even its restructuring programme aims to reduce annual costs by EUR 880 million and its full effect is expected in the second half of this year. 10.5 million phones have been shipped by Sony Ericsson in the quarter, down 28 percent from a year ago. Total revenues fell 19 percent year-on-year to EUR 1.405 billion.
The quarter ended with cash of EUR 563 million. The company has also estimated that its market share fell 1 point to 4 percent in Q1.