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October 16, 2011

Sony Ericsson reports flat Q3 sales revenue

Sony approximately shared 12% market space in the global Android-based smartphone market during Q3

By CBR Staff Writer

Sony Ericsson has reported total sales revenue of EUR1.59b for the third quarter ended 30 September 2011, a marginal decrease of 0.62% compared with EUR 1.6b in the same quarter 2010.

The company’s gross margin was 27%, while operating income and operating margin were EUR38m and 2%, respectively, for the third quarter.

The year-on-year decrease in margin is attributed to product and geographic mix, and the sequential decrease in margin was due to inventory-related adjustments and product and geographic mix.

Units shipped during the quarter were 9.5 million, a 9% decrease year-on-year due to a decline in feature phone shipments, partially offset by an increase in smartphone shipments, which were increased by 25% quarter-on-quarter.

Sony Ericsson president and CEO Bert Nordberg said they delivered a solid EUR73m improvement in income before taxes as the company rebounded from the previous quarter with a 33% increase in sales.

"Android-based Xperia(TM) smartphone sales now account for more than 80 percent of sales and we have shipped 22 million Xperia smartphones to date. We will continue to invest in the smartphone market, shifting the entire portfolio to smartphones during 2012," Nordberg said.

Income before taxes for the quarter was EUR31m, compared to income before taxes of EUR62m for the same quarter in the previous year.

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The sequential improvement was reflective of higher sales and lower operating expenses, while the year-on-year decline was due to lower gross margin percentage offset by lower operating expenses, the company said.

Net income during the quarter improved by EUR50m sequentially, while net income decreased by EUR49m year-on-year.

Sony Ericsson estimates that its share of the global Android-based smartphone market during the quarter was approximately 12% in volume and 11% in value.

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