Sony Ericsson 2Q profit rises 54 percent

Sony Ericsson, the world's fourth-largest mobile phone maker, said Thursday its net profit rose 54 percent in the quarter ended June 30, as it expanded its market share with low and mid-range phones.

The company, a joint venture between Sweden's LM Ericsson and Japan's Sony Corp., said net profit rose to 220 million euros ($303 million) from 143 million euros. Revenues grew 37 percent in the second quarter to 3.1 billion euros ($4.3 billion) from 2.3 billion euros in the same period a year ago.

Sales in the quarter were boosted by a 59 percent rise in handset shipments to 24.9 million from 15.7 million the previous year.

The London-based mobile phone maker said its global market share grew to more than 9 percent during the quarter, an increase of around 3 percentage points from a year ago.

The company expects to keep expanding its market share this year, Sony Ericsson President Miles Flint said in a statement.

"We expect the market in 2007 to remain competitive, but with recently announced products ... we aim to continue to grow faster than the market," he said.

Sony Ericsson expects the 2007 global market for mobile phones to be more than 1.1 billion units.