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Technology Stocks : Nokia (NOK)

NOK 6.505

+0.5%

Jan 2 3:59 PM EST

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To: tero kuittinen who wrote (2143)	9/14/1999 2:54:00 PM
From: w molloy	of 34857

Tero,(and Dave, Chaz, Caxton et al ) Comments... I honestly don't understand the way QCOM management handled this Oh come on. Don't tell me you are surprised. This is entirely consistent. Just review management behavior during the sale of the Infra division last February. and now, three months later the handset division is suddenly a piece of extra baggage that needs to be dumped ASAP. Again, you can't have been following QCOM too closely. The handset division has been in trouble for at least a year. MAnufacturing problems (initially) and low margins have dogged this business. Were they going to dump the division all along and intentionally misled investors by talking about rising handset margins and dazzling future? Investors who have exercised due diligence will not be surprised by this move. Hell, anyone just following the 'old' QCOM thread can't be surprised. It has been discussed on and off since the sale of the Infra division. How will the Globalstar handset manufacturing survive if the CDMA handset division goes on the block? Is that the next write-off down the road? Yes - along with other 'non-core' (non ASIC) businesses. More to the point - what price can they get from the handset division now that everyone knows they have to sell it? It's already sold! (or a JV has been set up...). The Infra deal was done when Sulpizio issued his (in)famous "this division is not for sale" speech during a QCOM employee meeting. He was 100% correct, even though he mislead the Infra folks. Tero - I thought you were better informed than this!!!! w.

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