Sony Ericsson profit down by 48%!
Rating: ouch!!
Marketwatch are reporting that Sony Ericsson have announced that its first quarter net profit fell by a whopping 48% to 133 million euros ($213 million). Sony Ericsson said “sales, which fell by 8% to 2.7 billion euros
were hit by slowing market growth in mid-to-high end phones, which reduced the average selling price to 121 euros from 134 euros. In addition, profit was impacted by higher research and development costs. The group said pretax profit was 193 million euros, which was still toward the top end of the 150 million euro to 200 million euro range it announced in March.”
We Say: Still, I think they will get by with their pre tax profit!!
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