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Sony Ericsson Starts 2010 with a Bang, Reports Best Quarter Since ’08

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LONDON, UK – In one of the most surprising financial quarter results announcements, Swedish-Japanese joint venture Sony Ericsson returned to profitability for the first time since last two years.

In the first quarter financial results just announced, the manufacturer reports an overall operating income of €21 million, with an average selling price per handset of €134, marking a 12% rise in the average selling price compared to last year. Though the manufacturer saw an increase in its average selling price and reported a positive income, the sales figures dropped from 14.6  million units worth €1,736 million in Q1 2009 to 10.9 million units worth € 1,405 million in Q1 2010.

The manufacturer has no doubt benefited from several cost cutting measures it undertook late last year to finally move to profitability after one of the worst economic slowdowns in the recent times. Further, Sony Ericsson maintained a clean sheet this year with no major issues with the handsets shipped in this quarter, which created an overall positive customer feedback for the troubled handset manufacturer, which saw its global handset market share shrink to 5% last year.

Sony Ericsson also announced the appointment of William ‘Bill’ A Glaser, Jr, as the Chief Financial Officer. Glaser earlier served Sony Corporation as the Vice President and Head of Sony Group Risk Office and succeds Ulf Lilja as the CFO of the company. Lilja will return to Ericsson effective on 31st July this year after completing the transfer of duties to Glaser. In his new role, Glaser will be reporting to Sony Ericsson President Bert Nordberg and will be based in Sony Ericsson’s global headquarters in London, UK and the joint venture’s offices in Lund, Sweden.

Bill Glaser has over twenty years of experience working in Sony’s diverse electronics, game and entertainment businesses in the US, UK and Japan. In the last ten years he has held senior positions at Sony in Japan and in the US and held several senior positions over the last decade. Commenting on the new appointment, Nordberg, President Sony Ericsson remarked, “Bill Glaser joins Sony Ericsson at an important time in our industry. The convergence of technologies across home and mobile devices, coupled with the increasing importance of understanding consumer insight, is something that he has already experienced across Sony’s diverse businesses. We look forward to welcoming him to Sony Ericsson”, Echoing similar thoughts, Glaser said, “I am very pleased to be joining Sony Ericsson during these very exciting times for both the mobile handset industry and the company itself. Over the past few months Sony Ericsson has announced one of its strongest product portfolios ever, which has created buzz in the industry. I look forward to applying the experience I have gained at Sony and contributing to Sony Ericsson’s next phase of growth”.

With the first profitable quarter in more than two years and the positive customer feedback from its latest smartphones: Symbian-powered Vivaz and Android-powered Xperia X10, Sony Ericsson has coupled its impressive financial quarter with key changes in its internal structure and the joint venture’s market share can be expected to soar higher in the remainder of the year.

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By , Chief International Correspondent on Apr 19th, 2010 GMT +2

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