Sony Ericsson's disappointing first quarter results

Posted on Saturday, April 16 2005 @ 3:31 CEST by Thomas De Maesschalck
Sony Ericsson today disclosed its first quarter results. The company claims they are disappointing because of a shift to cheaper pre-paid handsets and because there is still a lot of stock from the 2004 year-end.
Pretax profit was 70 million euros ($90.1 million), versus the previous year's 97 million and the average expectation of 118.5 million in a Reuters poll of 11 analysts.
Jan Wareby, Executive Vice President of Sony Ericsson, said that the company expects recovery in the second quarter. Both on the overall market as well as their own volumes. Sony Ericsson's first-quarter sales were 1.29 billion euros versus a forecast of 1.66 billion. Last year the first-quarter sales were at 1.34 billion euros.

More info about Sony Ericsson at MSN

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Thomas De Maesschalck

Thomas has been messing with computer since early childhood and firmly believes the Internet is the best thing since sliced bread. Enjoys playing with new tech, is fascinated by science, and passionate about financial markets. When not behind a computer, he can be found with running shoes on or lifting heavy weights in the weight room.

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