Sony Ericsson to Compete with Nokia’s N-Gage

Sony Ericsson today cheerfully reported its second quarter financial results, and added that it will create a competitor product to counter Nokia’s game-phone hybrid device, N-Gage. The K500i camera phone encompasses a 1.9-inch screen capable of 65,000 colors and an internal memory large enough to hold about 170 simple games, the Associated Press reported. Sony Ericsson hopes to have the phone on the market after September. The company also announced its Q2 profits today: $140 million, largely attributed to the success of multimedia phone sales. "These results reflect continued strong demand for our style-oriented lineup of imaging and multimedia phones," Sony Ericsson president Miles Flint told the Associated Press. Nokia also released its Q2 earnings today, reporting a 5 percent decrease in net sales from the same quarter in 2003.