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Sony Ericsson profits leap 28%
3G gets the credit
Mobile phone maker Sony Ericsson made a net profit of £55m in Q4 FY2004, ended 31 December, an increase of 28 per cent on the same period last year.
The joint venture shipped 12.6m handsets in the three-month period, up from 8m in the fourth quarter of 2003. Sales were £2,005m, up from £1,437m for the same period of 2003. Demand for 3G phones helped increase Average Selling Price to €160, up from €157 in the third quarter.
But the firm warned it expects the market as a whole to grow by less than ten per cent in 2005 - 2004 saw the market grow by more than 20 per cent.
Miles Flint, Sony Ericsson's president, said in statement: "The fourth quarter continued a trend of expansion in both volume and sales, showing the company's ability to effectively compete in this dynamic market. Strong growth in Q4 was led by good up-take of our latest 3G UMTS phone which has laid the groundwork for future expansion of our 3G portfolio." ®