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| Equity Market News | 19th May 2012 | |
Equity Org Headlines:Essar Energy adds 3 percent in mostly lower London energy sectorAntofagasta leads miners higher in London Hunting plc leads energy sector lower Sports Direct International leads London retailers higher Pace plc drops 40 percent on profits warning Royal Bank of Scotland leads London banks lower Royal Bank of Scotland leads banks, FTSE 100 higher in London Lloyds Banking Group drops 8 percent on first-quarter loss Lloyds shares down on PPI claims Aquarius Platinum adds 7 percent amid mostly lower mining sector |
15/04/05Mobile profits down on competitionSales, profits, and prices were all well below expectations when Sony Ericsson, the mobile phone manufacturer produced its first quarter earnings report on Friday. Pre-tax profits were down 28 percent and sales were down by 4 percent in relation to last year’s first quarter. These figures were said to point up the volatility of the mobile phone market between reporting periods as a consequence of the very short life of the phones. One reason Sony Ericsson gave for this fall in earnings was the difficulty it had encountered in distinguishing itself from its competitors. Most of its profits last year came from its quick entry into the production of camera phones. Cameras have become a standard feature in most middle and upper tier mobile phones, however, removing much of the company’s justification for pricing its phones higher. The company also said that prices were a bit lower due to the fact that few new products were launched during the period, but it claimed that new-product launches during the rest of the year would strengthen its position. Other reasons for the drop in earnings was put on a consumer preference for cheaper phones and excess inventories built up before Christmas. |
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