Sony Ericsson announced its Q1 2008 financial results, and they aren't too good - 47% profit decrease.
The company has sold 22.3 million handsets, which is by 2% more than in Q1 2007, but the average cost of the phones decreased from 134 EUR to 121 EUR, and high-end models weren't in demand. However, SE explains the drop in profits by the increase of R&D costs.
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