mobile phone manufacturer Sony Ericsson posted a surprise pre-tax profit as it announced its first quarter financial reports for 2010.
Boosted by strong growth in smartphone sales and hefty cost-cutting, the company has managed to record a net profit of £18m in the first quarter of the year after its dismal performance in 2009. The improved margin and a sharp fall in costs helped the company achieve the unprecedented profitability.
"We are pleased to see the positive impact of both the launch of new products and the business transformation programme improving the company's results," said Bert Nordberg, President of Sony Ericsson. He also cited the example of two of its latest products namely, the Xperia X10 and Vivaz products that are particularly being well received by consumers.
mobile phone recycling is also on the rise in the UK as consumers are quick to replace their handsets with new smartphones.
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