Sony intros new phones and video services but profits fall by half

Sony Ericsson is the latest mobile phone manufacturer to feel the pain of the global economic woes as its profits felled by nearly half to 133 Euros million with its sales dipping by eight percent over a year.

Overall, Sony Ericsson's market share went down from 9 percent to 8 percent although the manufacturer highlights that the market will grow by 10 percent in 2008, which could mean that in real terms, SE might have actually shipped more products.

The company has also introduced a couple of HSDPA models, the clamshell Z780 and the mono bloc G502 mobile phones which, while not spectacular, will probably promote SE's image as a cool and glossy mobile phone maker.

Feature wise, nothing exciting; 2-inch screens, 2 megapixels cameras, Bluetooth connectivity and M2 expansion slots and assisted GPS on the clamshell phone.

In related news, Sony Ericsson has also signed to video service provider Veveo's Vtap which will allow owners of Sony handsets with Java Platform 7 and 8 capability to access web videos from the likes of Youtube, Dailymotion and Myspace.

According to Veveo, that's more than 150 million videos that will be available within a few clicks to Sony Ericsson's mobile phone users.

There are no details as to how much end users will be paying for the service.