Sony Ericsson returns to the black

STOCKHOLM - Mobile phone maker Sony Ericsson posted an unexpected net gain for the first quarter on Friday, reaching 21 million euros ($29 million) in the black from a previous loss of 293 million euros, much thanks to new products focused more on the high-end market as well as continued efforts to shave off costs.

Although sales dipped in the three months ended March 31 to 1.4 billion euros, from 1.74 billion euros, the gross margin of the LM Ericsson and Sony Corp joint venture still jumped to 30.6 percent from a previous 8.4 percent.

Sony Ericsson CEO Bert Nordberg said new high-end products, such as the group's Xperia X10 and Vivaz which began shipping at the end of the first quarter, had been "well received" by the market.