The world's fifth-largest mobile phone maker Sony Ericsson formed from a joint venture between LM Ericsson of Sweden and Japan's Sony Corp has reported a 28 per cent increase in profit thanks to increase in the number of new mobile phones shipped to retailers. The London-based company earned 55 million euros ($71.8 million US) in the quarter that ended Dec. 31, compared with a profit of 43 million euros a year earlier. For 2004, the company reported a profit of 316 million euros ($413 million US), compared with a loss of 86 million euros in 2003. Fourth-quarter sales rose 29 per cent to just more than two billion euros ($2.6 billion) from 1.67 billion euros a year ago, thanks in part to the Sony Ericsson line of sleek phones with lots of multimedia features aimed at both younger buyers and corporate users.

- MORE