Posted on Friday, March 21, 2008 @ 14:27:14 EDT by xtv
Ericsson discloses the information provided herein pursuant to the Securities Markets Act and/or the Financial Instruments Trading Act. The information was submitted for publication at 7.30am CET on March 19, 2008.
Stockholm, Sweden, March 21, 2008 -- Sony Ericsson, the 50/50 joint venture between Ericsson (NASDAQ:ERIC) and Sony Corporation (NYSE:SNE), announced that the company sees moderating growth of mobile phone units with related effects on sales and profit in the first quarter 2008.
As Sony Ericsson announced, sales are expected to decline slightly but net income before tax (NIBT) is estimated to be in the range of EUR 150-200 m. due to increased operating expenses as a percentage
of sales compared with the same period of 2007. In addition to the smaller contribution to Ericsson's share in earnings of joint ventures and associated companies, sales and operating income of Ericsson Mobile Platforms, which is reported as part of Segment Multimedia, will be negatively affected by SEK 200-300 m.
Sony Ericsson's press release can be found on the Ericsson web site www.ericsson.com/ericsson/press/releases as well as on the Sony Ericsson web site http://www.sonyericsson.com/cws/corporate/press/pressreleases/latestnews.
Ericsson
reports results of the first quarter 2008 on April 25, 2008.
Ericsson is the world's leading provider of technology and services to telecom operators. The market leader in 2G and 3G mobile technologies, Ericsson supplies communications services and manages networks that serve more than 185 million subscribers. The company's portfolio comprises mobile and fixed network infrastructure, and broadband and multimedia solutions for operators, enterprises and developers. The Sony Ericsson joint venture provides
consumers with feature-rich personal mobile devices.
Ericsson is advancing its vision of 'communication for all' through innovation, technology, and sustainable business solutions. Working in 175 countries, more than 70,000 employees generated revenue of USD 27.9 billion (SEK 189 billion) in 2007. Founded in 1876 and headquartered in Stockholm, Sweden, Ericsson is listed on the Stockholm, London and NASDAQ stock exchanges.
For more information about Ericsson, visit www.ericsson.com or www.ericsson.mobi
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