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Sony Ericsson soars while phones sales slow for giants Nokia, Samsung.(News)
Publication: RCR Wireless News Publication Date: 18-OCT-04 |
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COPYRIGHT 2004 Crain Communications, Inc.
Byline: SAM OMATSEYE, COLIN GIBBS
Sony Ericsson Mobile Communications L.P. soared in the most recent quarter, while larger handset players Nokia Corp. and Samsung Electronics Co. saw handset earnings fall. Slowdowns in handset sales at Nokia and Samsung were offset by better earnings in other areas of their businesses.
Nokia
The fall air brought a chill for Nokia in the third quarter as the telecom giant reported a 20-percent drop in operating profit and a small 1-percent increase in net sales. However, Nokia beat its optimistic forecast in September for its handsets business and said it expects a better fourth quarter with sales of between $10.3 billion and $10.6 billion.
Nokia's net sales grew 1 percent to $8.5 billion compared with $8.4 billion in the year-ago period. Operating profit stood at $1.5 billion,...
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