Sony Ericsson reported a 48% drop in first-quarter net profits, citing slower sales growth in some of its markets. Despite the quarterly sales drop, Sony Ericsson said it expects the global handset market for this year to grow at a pace of about 10%, from more than 1.1 billion units in 2007. Net profit for the three-month period that ended March 31 came to 133 million euros (approx. $212 million). First-quarter sales fell to 2.7 billion euros ($4.3 billion). Shipped units reached 22.3 million, more or less in line with the predicted 22 million units.
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