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Sony Ericsson Profit Surges

TSC Staff

Wireless outfit Sony Ericsson posted sharply higher earnings and sales for the third quarter Friday and said industrywide cell-phone volume should be higher than previously forecast this year.

The company, a joint venture of Sony(SNE Quote) and Ericsson(ERICY Quote), earned $132 million in the quarter, up from $39 million a year ago. Sales were $2.41 billion, up from $1.56 billion a year ago.

The company said it benefited from brisk sales of its Walkman handsets and a higher average selling price: roughly $180 in the latest quarter compared with $173 a year ago. The company shipped 13.3 million units in the March quarter, up from 9.4 million a year ago.

Sony Ericsson put overall industry shipments at 900 million for 2006, up from its old forecast of 860 million.