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Technology Stocks : Ericsson overlook?

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To: Joar who wrote (3912)	2/3/2000 12:48:00 PM
From: Jim Oravetz	of 5390

Intel Gets Contract to Supply Ericsson With Flash-Memory Chips for Phones Computer chip maker Intel Corp. has landed a contract to supply Sweden's Telefon AB L.M. Ericsson with $1.5 billion in flash-memory chips over the next three years, one of the first major deals in its effort to tap into the fast-growing market for cellular phones. The deal ensures a steady supply of chips for Ericsson at a time when flash-memory use is rising rapidly. Once used primarily in computers, flash memory is becoming an increasingly important component of mobile phones, hand-held organizers, digital cameras and music players that download songs from the Internet. Demand for flash memory should soar over the next several years as phones bulk up on memory to be able to access the Web. "If you look at the growth in cell phones, you can see why we want to be a major supplier to this industry," said Benny Ginman, Intel's director of European sales and marketing for its wireless communications and computing group in Munich. "And the driving force is going to be the Internet." Unlike standard memory, flash chips store data even when a phone or computer is turned off. An Ericsson spokesman said the company expects to sign a contract to buy memory chips from Intel but couldn't confirm the value of the deal. About 275 million mobile phones were sold world-wide in 1999, and the market is growing more than 30% a year. Mr. Ginman said the company already supplies flash-memory chips to major mobile-phone manufacturers such as Nokia Corp. and Motorola Inc. but wants to offer a full line of components for Internet-enabled phones. Jim

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