Sony Ericsson Mobile Communications Ltd., the world's fourth-largest mobile-phone maker, said third- quarter profit fell for the first time in two years as a move into the lower end of the market hurt average selling prices.
Net income at the London-based company, a venture between Japan's Sony Corp. and Ericsson AB of Sweden, declined to 267 million euros ($379 million) from 298 million euros a year earlier. Sales rose to 3.11 billion euros from 2.91 billion euros a year earlier, Sony Ericsson said in a statement today.
Hideki Komiyama, who takes over from Chief Executive Officer Miles Flint next month, will inherit a company that has gone from being unprofitable into a business challenging Motorola Inc.'s third position in the market. Flint focused on high-end phones, leading to the highest margins in the industry, and is now adding simpler models to take market share in the low end of the market.
http://www.bloomberg.com/apps/news?pid=20601087&sid=aoztWStSz8zo&refer=home
Net income at the London-based company, a venture between Japan's Sony Corp. and Ericsson AB of Sweden, declined to 267 million euros ($379 million) from 298 million euros a year earlier. Sales rose to 3.11 billion euros from 2.91 billion euros a year earlier, Sony Ericsson said in a statement today.
Hideki Komiyama, who takes over from Chief Executive Officer Miles Flint next month, will inherit a company that has gone from being unprofitable into a business challenging Motorola Inc.'s third position in the market. Flint focused on high-end phones, leading to the highest margins in the industry, and is now adding simpler models to take market share in the low end of the market.
http://www.bloomberg.com/apps/news?pid=20601087&sid=aoztWStSz8zo&refer=home
