Sony Ericsson posts Q3 net profit

Mobile phone maker Sony Ericsson reported a third consecutive net profit in the third quarter, mainly thanks to continued success with its smartphones as well as new product launches.

Mobile phone maker Sony Ericsson reported a third consecutive net profit in the third quarter, mainly thanks to continued success with its smartphones as well as new product launches.

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Friday's report showed a profit of euro49 million ($70 million) in the quarter, compared with a previous loss of euro164 million. It was the company's third straight quarter that was in the black since the second quarter of 2008.

Revenues however were down slightly, coming in at euro1.6 billion from euro1.62. The LM Ericsson and Sony Corp joint venture shipped 10.4 million units in the period, which it said was down 26 percent year-on-year and 5 percent from the quarter before.