Mobile phone manufacturer Sony Ericsson (News
) on Tuesday released it 2006 fourth quarter and year-end fiscal results. The company had a good year, topping its previous records for both profits and sales.
During the final quarter of 2006 Sony Ericsson’s year-on-year volume and sales growth shot up more than 60 percent, the grand finale in a year when the company sold a total of 60 million music phones, including 17 million Walkman phones.
When it comes to the bottom line, Sony Ericsson also did very well. After taxes, the company reported net income for fiscal year 2006 of 997 million Euros, an increase of --- over 647 million Euros from fiscal year 2005 after-tax income of 350 million Euros.
In its report, Sony Ericsson noted that it experienced particularly strong growth in Latin America, Asia Pacific and Europe. That growth can be measured by increases in market share and average selling price, in addition to shipments.
The company noted that its multi-function phones—including the K800/K790 Cyber-shot and Walkman phones—did especially well.
“The fourth quarter saw Sony Ericsson finish a strong year with record volumes, sales and net income due to the soaring popularity of our imaging and music phones,” president Miles Flint said in a statement. “Our target is to become one of the top three players in the industry, and the momentum we established in 2006 makes this an achievable ambition.”
Based on a global handset market that moved about 980 million units during 2006, Sony Ericsson claims that it “outperformed the market during the quarter, gaining around 1 percent of market share sequentially, to achieve a global market share of approximately 9 percent during Q4.”
Another 2006 highlight for Sony Ericsson was its agreement to acquire Sweden-based software company UIQ Technology AB, a subsidiary of Symbian Ltd. The deal is expected to close during the first quarter of 2007.
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