Mobile phone giant Sony Ericsson almost tripled its net profits in 2006 to reach record levels on the back of strong sales. The group said it aimed to break into the top three mobile phone makers.
Sony Ericsson posted a net profit of €997m last year, up 185% from €350m in 2005. Sales jumped by 50.8% to €10.9 billion, while the number of handsets delivered rose from 51.2 million to 74.8 million.
Sales for the final quarter of the year exceeded analysts' average forecasts of 3.26 billion, rising by 64% to 3.78 billion owing to strong sales in Latin America, Asia Pacific and Europe.
Sony Ericsson said its market share grew by two percentage points compared with a year earlier to 9%. Sony Ericsson is a joint venture between the world's leading manufacturer of mobile phone networks, Ericsson of Sweden, and Sony, the Japanese electronics giant.
