Sony Ericsson Profits Triple To Hit Record Levels In 2006.

Mobile phone giant Sony Ericsson almost tripled its net profits in 2006 to reach record levels on the back of strong sales, as the group said it aimed to break into the top three mobile phone makers.

Sony Ericsson posted a net profit of 997 million euros (1.28 billion dollars) last year, up 185 percent from 350 million in 2005, it said Wednesday.

Sales jumped by 50.8 percent to 10.9 billion euros, up from 7.26 billion a year earlier, while the number of handsets delivered rose from 51.2 million to 74.8 million.

In the fourth quarter alone, Sony Ericsson's net profit more than tripled, up 210.4 percent to 447 million euros from 144 million.

Sales for the period exceeded analysts' average forecasts of 3.26 billion, rising by 63.72 percent to 3.78 billion owing to strong sales in Latin America, Asia Pacific and Europe.

"The fourth quarter saw Sony Ericsson finish a strong year with record volumes, sales and net income due to the soaring popularity of our imaging and music phones," Sony Ericsson president Miles Flint said in a statement.

Pre-tax profit rose by 153.5 percent to 1.29 billion for the full-year, and by 143.6 percent to 502 million for the fourth quarter.

Sony Ericsson, which is not listed, said its market share grew by two percentage points during the fourth quarter to nine percent from the same period last year.

The rise was due to "the continued success of products such as the K800/K790 Cyber-shot phone and Walkman phone line-up", the company said.

"Our goal is to become one of the top three players in the industry, and the momentum we established in 2006 makes this an achievable ambition," Flint said.

Sony Ericsson is a joint venture between the world's leading manufacturer of mobile phone networks, Ericsson of Sweden, and Sony, the Japanese electronics giant.

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Antan5224d ago

Delete this please. Completley game unrelated.

T-Virus5224d ago

It's under the 'mobile' category.

Shadow Flare5224d ago

The game section of sony may have been costing sony alot of money but the telecommunications and movie industry have sure been raking in the cash. I believe both those industries have had record profits. I may be wrong but things are sure looking rosey for sony in some places

Marty83705224d ago (Edited 5224d ago )

Sony has plenty of cash,like u said telecommunications and movie industry have been making money,other area's like Finance are doing well also.While the games section is losing.Sony hardware is selling really well be it phones,HDTV's,PSP,PS2,PS3,Digi Camera's,Video Camera's,PC's,Laptops, PDA's.Sony has more section's doing well,raking in the cash than it has section's losing money.Can't see Sony goin bust anytime soon like Xbots make out.

InMyOpinion5224d ago

A new low in posting for Sony Fanboys.

FFVIIFan5224d ago

Not like its under xbox news. Besides, this is a nice rebuttle to the gang of xbox fanboys saying Sony is going bankrupt. The fact is MS and Sony both have other cash flows to take loses in one of their fields. Neither is going away.

kingboy5224d ago

i need to upgrade my sony Ericsson p910 cellphone pretty soon