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Technology Stocks : The New Qualcomm - a S&P500 company
QCOM 166.81-4.1%3:59 PM EST
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To: Ramsey Su who wrote ()6/23/2000 9:39:00 PM
From: foundation  Read Replies (3) of 13582
 
Another perspective --->

Exerpt from SSB:

""""NOKIA/TELSON PACT POSITIVE FOR NOKIA AND QUALCOMM.
This morning, Nokia announced an agreement to partner with Telson for the production of mobile phones based on CDMA. We believe this is positive for both Nokia and Qualcomm. The pact should help Nokia to accelerate its progress in the CDMA-based mobile phone market while the Telson phones use Qualcomm's ASICs so it's obviously an indirect entry into Nokia for Qualcomm. Under this arrangement, some Nokia phones will now use the QCOM ASIC without Nokia swallowing its pride.

Nokia will use the Telson phones to enter the Korean market in 1Q2001 and will use the jointly developed phones to complement its product line throughout the rest of the world.

Either Telson or Nokia will have to pay royalties to QCOM but not both. However, it will not matter which one pays since Telson and Nokia's royalty agreements are about the same.

Telson already purchases ASICs from Qualcomm since it sells mobile phones, on an OEM basis, to Motorola, LG Communications and KT Freetel. In addition, alternative sources for ASICs still have not made in roads. This is a way for Nokia to be able to accelerate its progress without swallowing its pride and going to Qualcomm to purchase its ASICs directly.

Initially, the Telson/Nokia phone will be sold in Korea beginning in the 1st quarter of next year and will be used to complement the Nokia product line throughout the rest of the world later next year.""""
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