Sony Ericsson :: Mobile Phone Maker Posts Q1 Profit

Mobile phone maker Sony Ericsson posts Q1 profit STOCKHOLM - Mobile phone maker SonyEricsson has posted a net profit for the first quarter, boosted by product launches as well as company cost savings.Friday's report showed an unexpected gain for the first three months of 2010, with net profits reaching euro21 million ($29 million), up from a previous loss of euro293 million in the same quarter a year ago.Although sales dipped in the period, to euro1.4 billion from euro1.74 billion, the gross margin of the LM Ericsson and Sony Corp. joint venture jumped to 30.6 percent from a previous 8.4 percent.Falling operating costs also helped bump up bottom-line figures, dropping to euro423 million from euro528 million.The group said it shipped 10.5 million units in the quarter