By Lisa Johnston
New products on display at the American International Toy Fair, held in N
Phone maker Sony Ericsson Mobile Communications, the 50-50 joint venture of Sony and Stockholm, Sweden-based Telefon AB L.M., reported a 16 percent sales increase in the fourth quarter, hitting $1.8 billion, up from $1.5 billion in the year-ago period.
The company, which was founded in 2001, posted its second consecutive profitable three-month period, following steady losses in the past three years, reaching a net profit of $53.1 million in the fourth quarter, compared with an $85.2 million loss in the same three months a year earlier.
Income before taxes reached $56.8 million in the fourth quarter, which includes restructuring charges of $11.1 million, compared with a loss before taxes of $95.1 million year-over-year.
Sony Ericsson enjoyed continuing success with its new T610 line of camera phones, shipped in the fourth quarter. The line, which offers color screens and entertainment features, shipped 8 million mobile phones overall in the fourth quarter, 13 percent better than the 7.1 million shipped in the same period the previous year.
Sales for the year climbed 12 percent, to $5.8 billion, up from $5.2 billion in 2002. The company reduced its net loss for the 12 months, to $106.2 million, compared with a net loss of $297.7 million year-on-year.
Mobile phones shipped in the 12 months came in at 27.2 million, 19 percent above the 22.9 million shipped in 2002.
This TWICE webinar, hosted by senior editor Alan Wolf, will take a look at what may be the hottest CE products at retail that will be sold during the all-important fourth quarter. Top technologies, market strategies and industry trends will be discussed with industry analysts and executives.