Sony Ericsson announces first quarter results
According to figures released by Sony Ericsson, the company’s net income for the first quarter of 2011 is 11 million euros ($15.7 million), a decrease of 10 million euros compared to the same period previous year, which included a tax benefit. Net income increased 3 million euros sequentially, despite a decline in income before taxes of 20 million euros, reflective of a lower effective tax rate.
Income before taxes for the quarter was a profit of 15 million euros, a decrease of 3 million euros year-on-year and a decrease of 20 million euros sequentially, with the impact of lower sales offset by higher gross margin percentage and lower operating expenses
According to data announced by the company, the units shipped during the quarter were 8.1 million, a 23 percent decrease year-on-year and a 28 percent decrease sequentially, due to a decline in the number of feature phones shipped, introduction of new products toward the end of the quarter and seasonality.
The average selling price for the quarter was 141 euros, a 5 percent increase year-on-year and a 4 percent increase sequentially, as a result of product and geographical mix more than offsetting price erosion. Sales for the quarter were 1.15 billion euros, a 19 percent decrease year-on-year and 25 percent decrease sequentially, the company said .
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