STOCKHOLM -(Dow Jones)- Mobile phone maker Sony Ericsson Wednesday reiterated that it expects 10% industry volume growth in 2008, due largely to the low-end emerging markets.
Sony Ericsson also said the growth is a slowdown from the estimated 14% growth experienced in 2007.
Sony Ericsson, a joint venture between Japan-based Sony and Sweden's Ericsson, shipped 22 million phones in the first quarter, but its market share slipped to 8% from 9% in the fourth quarter.
"It's still weak in the middle to high end, but it's too early to make that call," said Sony Ericsson Executive Vice President Anders Runevad at Ericsson's capital markets day, referring to a market recovery.
Sony Ericsson suffered a sharp drop in earnings in the quarter due to a slowdown in the higher-end markets of Western Europe.
Net profit fell 48% to EUR133 million from EUR254 million as weaker sales of lucrative high-end phones and investments in emerging markets weighed on earnings.
The company also said its XPERIA X1 handset, a touch screen phone that will run on Windows Mobile 6.1, is set to be released in the fourth quarter.
-By Adam Ewing, Dow Jones Newswires; +46 8 545 130 95; adam.ewing@dowjones.com
(END) Dow Jones Newswires
Posted to the site on 14th May 2008
Posted to: www.cellular-news.com/story/31165.php