Sony Ericsson, the world's fourth-largest mobile phone maker, said today its net profit rose 54% in the quarter ended June 30, as it expanded its market share with low and mid-range phones. The company said net profit rose to 220 million euros (US $303 million) from 143 million euros. Revenues grew 37% in the second quarter to 3.1 billion euros ($4.3 billion) from 2.3 billion euros in the same period a year ago.
Sales in the quarter were boosted by a 59% increase in handset shipments to 24.9 million from 15.7 million the previous year. The London-based mobile phone maker said its global market share grew to more than 9 percent during the quarter, an increase of around 3 percentage points from a year ago.
The company expects to keep expanding its market share this year, Sony Ericsson President Miles Flint said in a statement. Sony Ericsson also said it expects the 2007 global market for mobile phones to be more than 1.1 billion units. (AP)