Sony Ericsson announces Q1 results, new CFO

Sales for the quarter were Euro 1,405 million (US$ 1.09 billion), a decrease of 19% year on year. Average selling price (ASP) per unit sold increased 12% both sequentially and year-on-year to Euro 134 during the quarter due to good sell through of existing models, new flagship phones starting to ship at the end of the quarter and a positive currency effect.

Income before taxes for the quarter was a negative Euro 370 million (US$ 500.5 million) after a profit of Euro 18 million (US$ 24.4 million) in the year-ago period; excluding restructuring, the company recorded a profit of Euro 21 million (US$ 28.8 million), illustrating the positive impact of the cost reduction programme, Sony Ericsson said.

Separately, Sony Ericsson announced that William ‘Bill’ A Glaser, Jr, former Sony Corporation Vice President and Head of Sony Group Risk Office, has joined Sony Ericsson and was appointed Chief Financial Officer effective immediately. He succeeds Ulf Lilja, who will return to Ericsson on 31 July. Glaser, who reports to Sony Ericsson President Bert Nordberg, will be based at the company’s global corporate offices in London as well as its offices in Lund, Sweden.