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Technology Stocks : Qualcomm Incorporated (QCOM)

QCOM 171.54

+0.4%

Nov 10 3:59 PM EST

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To: Wyätt Gwyön who wrote (64946)	1/28/2000 1:25:00 PM
From: T L Comiskey	Read Replies (1) of 152472

Friday January 28, 1:13 pm Eastern Time Ericsson secures components for cellphones in 2000 STOCKHOLM, Jan 28 (Reuters) - Swedish telecoms equipment maker Ericsson , the world's third biggest cellphone maker, said on Friday it had secured the necessary components needed to meet mobile phone demand for 2000. ``We have an ambition to regain market share,' Ericsson President Kurt Hellstrom told a teleconference. Ericsson's goal is to grab a 15 percent share of the global handset market in 2000, up from its 12 percent share in 1999. Telefonaktiebolaget LM Ericsson produced 31 million mobile phones in 1999 and expects to produce around 60 million this year. ``We have taken the necessary steps to guarantee that we have the supply of necessary component for those volumes,' Hellstrom said. Strong growth in sales of mobile phones and other new digital equipment like personal digital assistants, digital cameras and MP3 music players has caused a shortage of supply of some componets like flash memory chips. Flash memory chips are lightweight storage devices that retain memory when power is switched off. Flash memory chips are made by Intel Corp (NasdaqNM:INTC - news), the world's largest chipmaker, and a handful of other U.S., Japan and European companies. Ericsson shares were nine percent higher at 628 crowns in afternoon trade after posting a better-than-expected 1999 pre-tax profit and a strong outlook for 2000. More Quotes and News: Intel Corp (NasdaqNM:INTC - news) Related News Categories: US Market News

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