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Technology Stocks : Nokia (NOK)

NOK 6.935

-0.5%

12:58 PM EST

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To: Bux who wrote (2831)	11/24/1999 9:35:00 AM
From: tero kuittinen	Read Replies (1) of 34857

But those are the same numbers Unicom projected in the summer. They haven't revised them, despite recent developments. They dropped the reference to the 1999 target, but kept the 2003 target the same. You can't do that just by snapping your fingers. You can't ignore a 6-10 month delay and keep the 2003 target the same. If you want to accomplish a speedier build-up, you need to spend more money and raise it faster. Unicom is entangled in a nasty fight with their original Western investors, their American IPO has been postponed indefinitely and they have poured their 1999 investments into ramping up GSM orders from Motorola, Nokia, Ericsson and Nortel. Where's the money for the massive CDMA build-up coming from? Don't tell me they're forcing vendor-financing on the manufacturers. This is what Motorola's balance sheet really needs - selling CDMA infra to Unicom, paying itself and assuming all financial risk. And all this has no effect on the 2003 projection? Would this projection be made by the same consultants who promise 40 million satellite phones subscribers by 2004? Tero

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