Friday, July 15, 2005

Sony Ericsson sees fall in profit

Sony Ericsson Mobile Communications Ltd.,one of the leading brands in the mobile-phone handsets segment in India and world over declared the second-quarter results according to which profit fell 19 percent as competition increased. Net income at London-based Sony Ericsson, the world's sixth- biggest mobile-phone maker, declined to 75 million euros ($91 million) from 89 million euros a year earlier. Sales rose to 1.61 billion euros from 1.50 billion euros. Sony Ericsson has blamed the tough competetion with No. 1 brands like Nokia. Sony Ericsson is all set to take on its rivals with music phones using Sony's Walkman brand and by introducing cheaper handsets in China and India.