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

QCOM 174.01

-0.3%

Nov 14 9:30 AM EST

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To: Keith Feral who wrote (13039)	6/23/2000 3:50:00 PM
From: Ibexx	Read Replies (2) of 13582

Complete text - Pete Peterson (Prudential) research article (6/23) QUALCOMM BREAKTHROUGH WITH NOKIA THROUGH TELSON -Nokia signed an agreement with Telson to produce CDMA handsets for the Korea market -QCOM's CDMA chipset would be used in those handsets -Nokia had been using their own chips for their CDMA handset designs -Progress reinforces QUALCOMM 's strength in their techn ology and time to market of their chipsets -Nokia's entrance into Korea reaffirms the importance of CDMA in that market -Reiterate STRONG BUY rating on QCOOM Nokia announced that it is working with Telson ELectronics in Korea to develop and manusfacture CDMA handsets in Korea, expected in Q1:01. Nokia will provide the design of the phones and Telson will manufactures the phones. Telson, who is licensed with Qualcomm, will use Qualcomm's CDMA chipsets. We believe that the handsets will start incorporating Qualcomm's MSM3100 chips. We believe that this is significant progress for Qualcomm as Nokia has only been using their own chipset for their CDMA handset designs. Long term, Nokia expects to use their own chipsets as well. Korea is accelerating in their CDMA deployment. We expect KOrea to migrate to ix in the third quarter of this ear, offering 144 kbps data rates. Nokia had not been a participant in the Korea CDMA market, which has been dominated by Samsung, Motorola and LGIC. We believe that Nokia's decision to use Qualcomm's chips allows them to speed up time to enter the Korea market. Furthermore, we believe that Qualcomm is the only company that has the ix chips readily available. We believe that this progress demonstrates Qualcomm's superior position in their CDMA expertise as well as the speed of development of their chipsets......We reiterate STRONG BUY rating on QCOM. Ibexx

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