Sony Ericsson's income halved in Q3

Sony Ericsson announced that its pre-tax income dropped by half during the third quarter this year compared to the same period last year, according to a company statement issued on Friday. "Income before taxes was 31 million euros (43 million U.S. dollars) during the third quarter, compared with 62 million euros (86 million U.S. dollars) in the same period last year," the statement said. Sales during the third quarter increased by 33 percent, with smartphones accounting for 80 percent of the total sales. Net income during the quarter increased by 50 million euros (70 million U.S. dollars), compared with the second quarter this year, but dropped to zero from 49 million euros (68 million U.S. dollars) in the same period last year. The result is a bit better than expected, commented Sony Ericsson President and CEO Bert Nordberg, adding that consumer markets in China and India were better than those in Europe.