Sony Ericsson / Sony : General : Sony Ericsson reports second quarter 2011 results
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15 July 2011
Highlights: Supply chain constraints from the Japan earthquake significantly impact Q2 results Smartphones account for more than 70 percent of total sales Android-based Xperia™ volume up 150 percent year-on-year
Bert Nordberg, President and CEO of Sony Ericsson commented, “Sony Ericsson’s second quarter profitability was affected by the March 11 earthquake in Japan. We estimate that the impact of earthquake-related supply chain constraints on our portfolio was close to 1.5 million units, with most of the effect in the early part of the quarter. Our shift to Android-based smartphones continues with smartphone sales accounting for more than 70 percent of our total sales during the quarter. We have shipped more than 16 million Xperia smartphones to date. We have introduced eight new Xperia smartphones this year and we continue to see strong consumer and operator demand across the Xperia smartphone portfolio.”
Units shipped during the quarter were 7.6 million, a 31% decrease year-on-year and a 6% decrease sequentially, due to a decrease in volume caused by constrained supply of critical components and an anticipated decline in the number of feature phones shipped.
Average selling price (ASP) for the quarter was Euro 156, a 3% decrease year-on-year but an 11% increase sequentially. The year-on-year decrease is due to product and geographic mix and price erosion. The sequential increase in ASP is attributed to favorable product and geographic mix, more than offsetting price erosion and unfavorable foreign exchange rates.
Sales for the quarter were Euro 1,193 million, a 32% decrease year-on-year and a 4% increase sequentially.
The gross margin percentage for the quarter was 31% with an improvement of 3 percentage points year-on-year that included restructuring charges, and a decrease of 2 percentage points from the previous quarter, which included the benefit of some larger than normal items relating to royalty matters and warranty estimates.
Loss before taxes for the quarter was Euro 42 million, compared to an income before taxes of Euro 31 million for the same quarter in the previous year, due to lower volume. Income before taxes for the previous quarter was Euro 15 million. The sequential change was reflective of lower gross margin and higher operating expenses.
The quarter ended in a net loss of Euro 50 million, compared to a net income of Euro 12 million in the same quarter in the previous year, and Euro 11 million in the last quarter. Tax expenses in this quarter included the impact of tax adjustments and the distribution of profits and losses between various jurisdictions.
Cash flow from operating activities during the quarter was negative Euro 224 million, mainly due to increases in accounts receivables and inventories, negative net income and timing of certain payments. New external borrowings of Euro 165 million were made during the quarter to enhance liquidity and growth, resulting in total borrowings of Euro 769 million at the end of the quarter. Total cash balances at June 30, 2011 amounted to Euro 516 million.
Sony Ericsson estimates that its share in the global Android-based smartphone market during the quarter was approximately 11% in volume and 11% in value.
Sony Ericsson maintains its forecast for modest industry growth in total units in the global handset market for 2011.
http://www.sonyericsson.com/c[....]lease2011-20110715?cc=gb&lc=en
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Posted: 2011-07-15 12:10:55
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this is what eldar says about it
eldarmurtazin
3. I said it before earthquake that se going to lost a lot in 2q and they actually lost. 3q will be even worse for them
eldarmurtazin
2. SE good turnover takes 4 weeks. That's delivery time. So se lost in 2q due to market condition and that's not earthquake
eldarmurtazin
1. Bert Nordberg lie about se 2q sales. He just lie as did it before. 2q losses not affected by eartquake which take place on March 11
[ This Message was edited by: jack00 on 2011-07-15 14:52 ]
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Posted: 2011-07-15 15:51:48
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I agree with the statement that 3Q will be even worse. Products like the Mini, Neo and Pro, which should have been released in Q2, will be released in Q3. What is SE selling now in Q3? Only Arc and Play. So Q3 will probably be even worse.
In Q4 the product range will be complete, with the Minis, Ray, Neo and Pro, so we can hope they'll start selling something.
For now, it's hard to sell phones if you don't have them.
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Posted: 2011-07-15 18:08:06
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No I already have a Neo its out in UK and most countries as far as I know. It said that Q3 may be better not worse. I feel sorry for SE cos whatever people say they really were geared up for loads of new phones and doing well in a new start then the earthquake hits and delays happen. And I become annoyed with people moaning saying they have not got their new Xperia phone. Think about the poor people and think about how tough things may be out there. Sorry rant over
_________________
Sex is like the bank,as soon as you withdraw you lose interest!!
Xperia Neo
[ This Message was edited by: Bonovox on 2011-07-16 00:12 ]
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Posted: 2011-07-16 01:05:00
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Very sad news..
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Posted: 2011-07-16 02:33:36
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korbindallis Posts: > 500
I just want to Mini Pro and Ray to go to market asap
and the txt
these phones will save
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Posted: 2011-07-16 05:53:56
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On 2011-07-16 01:05:00, Bonovox wrote:
No I already have a Neo its out in UK and most countries as far as I know. It said that Q3 may be better not worse. I feel sorry for SE cos whatever people say they really were geared up for loads of new phones and doing well in a new start then the earthquake hits and delays happen. And I become annoyed with people moaning saying they have not got their new Xperia phone. Think about the poor people and think about how tough things may be out there. Sorry rant over
_________________
Sex is like the bank,as soon as you withdraw you lose interest!!
Xperia Neo
[ This Message was edited by: Bonovox on 2011-07-16 00:12 ]
I feel sorry too, but that's not enough to keep me waiting till October or November till the Pro goes out.
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Posted: 2011-07-16 07:49:38
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