Sony Ericsson / Sony : General : Sony Ericsson reports third quarter 2010 results
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15 October 2010
Q3 Highlights:
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Turnaround continues with third consecutive quarter of profits
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Continued success of smartphone portfolio keeps ASP at high level
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Launch of Xperia™ models in new markets, including China and the U.S.
The consolidated financial summary for Sony Ericsson Mobile Communications AB (Sony Ericsson) for the third quarter ended September 30, 2010 is as follows:
Bert Nordberg, President & CEO of Sony Ericsson commented, “Our third consecutive quarter of profitable results illustrates that Sony Ericsson’s overall performance is stabilising. Our strategy to focus on the smartphone segment is succeeding and smartphones now comprise more than 50% of our total sales. 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.”
Income before taxes for the quarter excluding restructuring charges was a profit of Euro 66 million following the positive effects of the transformation programme. Net income for the quarter was Euro 49 million, an increase of Euro 213 million year-on-year and of Euro 37 million sequentially.
The gross margin percentage was 30% and almost doubled year-on-year, reflective of the company turnaround.
Units shipped in the quarter were 10.4 million, a decrease of 26% year-on-year and down 5% sequentially. Average selling price (ASP) in the quarter remained at a high level of Euro 154, a 34% increase year-on-year and a decrease of 4% sequentially, due to product and geographical mix. As a result, sales for the quarter were Euro 1,603 million, essentially flat year-on-year and a 9% decrease sequentially.
Sony Ericsson’s net cash position as of September 30, 2010 was Euro 538 million. The negative cash flow from operating activities was Euro 54 million, mainly due to payments during the quarter related to the transformation programme.
Market share in unit base for the quarter remained flat sequentially and is estimated to be approximately 4%. The value market share is estimated to be approximately 6%.
Sony Ericsson maintains a forecast of slight growth in units in the global handset market in 2010.
http://www.sonyericsson.com/c[....]inancialspressrelease-20101015
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Posted: 2010-10-16 23:12:46
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More promising news then
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Posted: 2010-10-16 23:16:17
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Regardless they've sold less units, the profits went up. I believe that the Q4 is gonna be awesome.
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Posted: 2010-10-17 08:23:57
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Not too bad I suppose. They made a profit from quite reduced portfolio so they seem to be on the right track. They just need to get more handsets out.
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Posted: 2010-10-17 11:59:27
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Exactly. If the units would have been more, the profit would have been higher.
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Posted: 2010-10-17 17:10:00
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It's been a good year for SE, not the best but at least they are making some profits. I'm not too happy about a few things but I hope 2011 becomes a smooth year in marketing, strategy, finances, cutting edge phones and support.
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Posted: 2010-10-17 18:36:05
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I know Sony Ericsson are pushing Android right now and seem to be doing ok. But I still think there is a lack of normal phones if you know what I mean. There is still that big part of the market for the A200 type phones but there is hardly any around now. It's sad I think. Their range right now seems to be just too much Android and not everyone wants that despite increasing sales. When people talk of the new Aino or the next Walkman it's all really dirt cheap models now like Spiro Zylo Yendo all very average spec wise. Yet the better spec ones are always just Android now. What happened to the next w995 type handset?? I just think they need to broaden their range again a bit and not put all their eggs into the Andoird basket.
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[ This Message was edited by: Bonovox on 2010-10-17 19:25 ]
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Posted: 2010-10-17 19:22:00
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On 2010-10-17 18:36:05, Dups! wrote:
It's been a good year for SE, not the best but at least they are making some profits. I'm not too happy about a few things but I hope 2011 becomes a smooth year in marketing, strategy, finances, cutting edge phones and support.
YES! and
supported sigh!
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Posted: 2010-10-17 21:04:57
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