Mobile handset maker Sony Ericsson Tuesday said first-quarter net profit fell as the company suffered from a lack of new products and supply chain disruptions after the earthquake and tsunami in Japan. Sony Ericsson, a joint venture between Sweden’s Telefon AB L.M. Ericsson and Japan’s Sony Corp., said net profit in the three months ended March 31 fell to EUR11 million from EUR21 million in the same period a year ago when there was an extraordinary tax benefit. The company forecast modest growth for the global handset market for 2011.
“We accelerated our shift towards an Android-based smartphone portfolio, with smartphones comprising over 60% of our total sales during the quarter,” said Sony Ericsson’s Chief Executive Bert Nordberg.
Earlier this year, Sony Ericsson launched its latest range of Android smartphones, including the Xperia Play which includes gaming functions from Sony’s PlayStation console, the very thin Xperia Arc high-end phone, and the Xperia Neo which is a smaller mid-range phone reminiscent of the Arc. However, the new additions to the London-based company’s portfolio haven’t been available on the market long enough to help boost first-quarter earnings.
Revenue for the first quarter ending March 31 was EUR1.15 billion, down from EUR1.41 billion, while operating profit was EUR19 million, down from EUR20 million.
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