Smartphone maker Sony Ericsson has announced that the company has registered a profit of £18.5 million (€21 million) during the first three months of 2010, following a loss of €167 million during the last quarter of 2009.
However, the company also reported a fall in its revenue from €1.7 billion to €1.4 billion along with a 28 percent fall in its global smartphone shipments from the last three months of 2009.
The company, which was behind the legendary Walkman series mobile phones, said that the drop in its mobile phone sales was due to the fact that the company was on the verge of narrowing its smartphone portfolio, concentrating only on high end smartphone devices.
Bert Nordberg, President, Sony Ericsson, said in a statement that even though the company had registered a drop in its sales, it will continue to plough through the present situation as its portfolio modification is under way.
Meanwhile, the company also announced the appointment of Bill Glaser as the company's Chief Financial Office. Glaser, who was the Sony’s vice president and the head of the Sony Group Risk Office said in a statement that “Over the past few months Sony Ericsson has announced one of its strongest product portfolios ever, which has created buzz in the industry.”
The industry needs Sony Ericsson because the company has been a very good innovator in the mobile phone market. Also the more competition, the better it is for the industry as a whole. Interestingly, Sony Ericsson has decided to raise the game by concentrating on the high end of the market.
(The Globe and Mail)