Sony Ericsson sees profits
In mobile financial news, Sony Ericsson is reporting profits. While the competitors like Apple and Androids are seemingly floating along reporting profits that are astounding, there are some other companies like Sony Ericsson that are still getting by.
The second quarter of 2010 was a good one for Sony Ericsson reporting net profits of about 15.6 million dollars. Sony Ericsson announced this information today and reported the 15.6 million dollar profit off of 2.284 billion in sales. With the earnings statement released by the company they have noted solid sales of two devices in their lineup. Stating that the Xperia X10 and the Vivaz were the models that helped take the company into the black. Sony Ericsson stated their overall sales rose about 4 percent and the companies CEO Bert Nordberg was quoted saying “We are now well positioned for long-term growth”. The strategic plan set out by Sony Ericsson after a less than impressive previous year was essentially to raise its prices and target the highest end of the market. The Japanese-Swedish based Sony Ericsson is the fifth largest mobile phone maker in the global industry is very pleased with the 15 million in profits as the previous year’s second quarter reported a loss of about 213 million Euros. In the middle of 2008 Sony Ericsson slimed down its work force by about 4k people and left a mere 7,800. With this shrinking in their staff and the higher prices in place the company is stating that their plan is in its final stages and can expect about 880 million Euros per year. With the reports that surfaced today it looks as if they have accomplished their goal and will be moving forward with their strategy.
Things are looking good for Sony Ericsson at least for now.
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