Earnings: Sony Ericsson Q2 Profit Rises 55 Percent

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Sony Ericsson (Nasdaq: ERIC) said Q2 pretax income came in at 327 million Euros ($450 million USD), a year-on-year increase of 55 percent. While that appears strong, Reuters reported that the company still fell short of expectations that its profit would reach 385 million Euros after shifting its focus to concentrate on sales of lower priced phones. Sony Ericsson did say that the shift resulted in an expected decline in average sales prices to 125 Euros ($172 million USD). The company’s net income in Q2 was 220 million Euros ($303 million USD). Sony Ericsson managed to ship 24.9 million units during the quarter, a 59 percent rise over the same period last year. Earnings release | Webcast

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