Sony Q3 Profits Fall Short Of Estimates

Sony Ericsson has posted its profits for the third consecutive quarter this year, falling short of analysts expectations owing to a decrease in sales.

The company reported a net profit of 49 million Euros ($69 million) in the third quarter but fell short of analysts expectations, which predicted a profit of 67 million Euros.

Sony Ericsson, which is a joint venture between Sony and Sweden's Telefon AB L.M. Ericsson, shipped a total of 10 million handsets during the quarter. It had shipped 14.1 million units a year earlier.

The revenue from sales was pegged at 1.60 billion Euros but was lower than the market predictions of 1.84 billion Euros.

Chief Executive Bert Nordberg, said in a statement to The Wall Street Journal: “During the quarter, we launched our Android-based Xperia models in new markets, such as China and the U.S., and it is our ambition to become the global number one handset provider on the Android platform.”