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Technology Stocks : Qualcomm Incorporated (QCOM)

QCOM 156.34

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To: uel_Dave who wrote (45690)	10/22/1999 6:06:00 AM
From: uel_Dave	Read Replies (2) of 152472

OT: Ericsson to invest $196 million in new cellphone technology source:http://www.southam.com/montrealgazette/newsnow/cpfs/business/991021/b102133.html MONTREAL (CP) - Ericsson Canada Inc. will invest $196 million to develop a new generation of cellular telephones that will have e-mail, video and downloading capacity. The investment over three years is expected to spur the creation of 130 engineering jobs at the company's R and D centre in Montreal. Company president Brian Barry said Thursday the new technology will offer multiple services. "A user will be able to . . . download files while sending e-mail, verify his stocks and have a voice conversation simultaneously from a handset," Barry told a news conference. The technology is expected to be commercially available in 2001. Barry said the use of cellular telephones is growing at a faster rate than that of regular phones around the world. In fact, in Sweden and other developed markets, regular phone lines are being cut off and only cellphones are available, he noted. He also said that by 2001, 1.1 billion people will be using cell phones. Ericsson Canada received the mandate from its Swedish parent company, LM Ericsson, to proceed with the research and development. Ericsson Canada has more than 1,600 employees across the country. LM Ericsson's workforce worldwide tops 100,000.

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