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Siemens' phone biz profits, sales jump

Double-digit growth

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Siemens' mobile phone business sold 26.7 per cent more handsets year on year during the group's most recently completed fiscal quarter, Q1 2004, the company said yesterday.

The group's Information and Communication Mobile (ICM) division shipped 15.2 million handsets in the three months to 31 December, up from ten million in Q1 2003. Mobile phone sales totaled €1.47 billion, up from €1.31 billion in the year-ago quarter, yielding a €64 million to group profits, up from €52 million this time last year,

However, competitive pressures and a product mix weighted toward lower-priced phones continued to limit average selling price per unit, the company admitted.

ICM's other component, Mobile Networks, recorded quarterly sales of €1.2 billion, generating earnings of €26 million - reversing the loss of €25 million it reported this time last year.

In total, ICM achieved sales of €2.96 billion and income of &euro:123 million.

The group as a whole reported a net income of €726 million (82 cents a share), up from €521 million (59 cents a share) during the year-ago quarter. First-quarter sales of €18.33 billion were two per cent higher year-over-year on a comparable basis, the company said. ®

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