Sony Ericsson Triples Profits on Strong Walkman Cell Phone Sales

6:30 am on April 14, 2006 | Category: Business, Cell Phones, Corporate, Mobile Devices

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The world’s number five handset maker, Sony Ericsson, has announced its first quarter financial results, with profits almost tripling over the same period a year pervious.

The company’s net earnings came in at €109 million ($132 million), compared to just €32 million in the first quarter of 2005. Pretax earnings, meanwhile, were €151 million, considerably higher than the €134 million that SME Direkt analysts had predicted. Total sales increased by 55% to €1.99 billion, from €1.29 billion a year ago.

This increase in revenue is largely due to the success of more expensive devices, including music phones sold under the Sony Walkman brand.

“The W800, W550 and W600 Walkman phones were big sellers during the quarter and we have now sold 5.5 million Walkman branded phones since mid-August, proving the success of our mobile music strategy,” said Sony Ericsson CEO, Miles Flint, in a statement.

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    Edited by Jeremy Maddock