Sony Ericsson Has Quarterly Profit on Higher-Priced Handsets
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Sony Ericsson Mobile Communications AB, the mobile-phone venture of Sony Corp. and Ericsson AB, posted a first-quarter profit as it shipped more high-priced models, beating analyst estimates of a loss.
Net income was 11 million euros ($15.7 million), the London-based company said in a statement today. Profit declined from 21 million euros a year earlier when the company had a tax benefit. Analysts had estimated a net loss of 27.1 million euros, according to the average of 10 estimates compiled by Bloomberg.