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Technology Stocks : Deswell Industries (DSWL)

DSWL 3.290

-4.2%

Nov 4 3:59 PM EST

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To: Madharry who wrote (1295)	6/14/1999 9:03:00 AM
From: Ron Bower	Read Replies (1) of 1418

Armin, Two years ago the cell phone demand in China was increasing at a fast rate - one of the reasons Motorola expanded into China - but the growth has tapered off because of the weakened economy. The potential is there - one of the reasons VTech is poised to enter the mainland market - but I don't see a major increase in demand until the economy in China improves. Much of the growth in cell phone demand has been due to the growth in businesses and the current growth is zero. Part of China's stimulus agenda is expansion of telecommunications, making it possible for many homes to have phones that haven't in the past, but people have to be able to afford the service. I look for another weak year from Deswell, then resumption of growth. A lingering weak economy improves Deswell's long term prospects. Many companies were in position to survive a short term weakening, but few will survive a long term. Deswell's management is doing the right thing by hoarding cash. JMHO, Ron

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