Sony Ericsson income down 48%; handset sales up 2%

Sony Ericsson has reported a drop in net income by 48% in the first quarter of 2008. Handset shipments were up by 2% to 22.3 million handsets, although the average selling price fell. The figures weren't a surprise as the company had previously warned its profits were going to drop, mainly due to higher research and development costs. [Press release]