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Technology Stocks : The New Qualcomm - a S&P500 company

QCOM 165.07

-1.0%

Nov 18 3:59 PM EST

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To: llwk7051@aol.com who wrote (5)	7/22/1999 9:00:00 AM
From: llwk7051@aol.com	Read Replies (1) of 13582

Handset information from Nokia earnings report: Market to Triple Nokia has 23 percent of the global market, according to market researcher Dataquest. Motorola has 20 percent, while Sweden's Ericsson AB has 15 percent. The Helsinki-based company expects the market will triple to 1 billion subscribers by 2003. Worldwide sales of cellular phones rose 51 percent to 163 million units last year. ``At some point everyone will have a mobile phone, and there are more players coming into the market,' said Edward Werner, a portfolio manager at Banque Baumann et Cie. SA in Luxembourg, adding he might buy the shares if they decline further. The cellular phone unit saw operating profit rise 105 percent to 671 million euros, while sales in the unit rose 58 percent to 2.922 billion euros. Some analysts expected sales to rise as much as 85 percent. ``Strong demand for our very competitive range of mobile phones continued and we strengthened our positions as the number one mobile manufacturer,' said Chief Executive Jorma Ollila in a statement. Nokia said sales growth may exceed its earlier target of 25 percent to 35 percent a year. In the first quarter, Ericsson's mobile phone sales declined 12 percent, the third consecutive quarterly decline, while Motorola's rose 8 percent in the period. Ericsson's earnings are due tomorrow. Nokia said it estimates there was 375 million cellular phone subscribers in June. It also said 40 percent of the phones sold were sold to existing subscribers, who upgrade their phones to a newer model. Robert D.

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