Ericsson overlook? Message Board

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Technology Stocks : Ericsson overlook?

ERIC 9.410

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9:59 AM EST

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To: Dexter Lives On who wrote (4838)	9/28/2001 10:43:19 AM
From: elmatador	of 5390

ERICSSON/NOKIA: WORSE SECTOR CONDITIONS BEHIND DOWNGRADES (News agency Direkt) -- Deteriorating sector conditions prompted Salomon Smith Barney to cut profit estimates and target prices for Ericsson and Nokia, according to a September 28 analysis. The investment bank also marked down its forecast for total mobile phone sales for 2002 to 450 million units sold compared to the previous estimate of 492.8 million units. Salomon Smith Barney cited generally weaker macroeconomic situation, worsened conditions in the telecom sector and the companies` large dependency on replacement-market sales for handsets as among the reasons behind the downgrade.

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