Sony Ericsson Reports Q4 Profit
Jan 19, 2004
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Consumer electronics maker Sony Ericsson Mobile Communications AB announced a net profit of 43 million euros (approx. U.S. $53.2 million) in the fourth quarter ended Dec. 31, 2003, marking the second consecutive quarter that the company posted a profit. A joint venture between Japan's Sony Corp. and Sweden's Telefon AB L.M. Ericsson, the company posted a 16 percent rise in revenue to 1.44 billion euros (approx. U.S. $1.78 billion) for the quarter.

For the full year, Sony Ericsson reported a net loss of 86 million euros (approx U.S. $106.5 million) and posted a 12 percent increase in sales to 4.67 billion euros (approx. U.S. $5.7 billion) for the year. The company also reported a loss of 9 million euros (approx. U.S. $11 million) in restructuring costs, due to a decision to stop the production of code division multiple access (CDMA) phones for the North American market and the elimination of 500 R&D jobs in the U.S. and Germany. (Dow Jones)

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