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Technology Stocks : The New Qualcomm - a S&P500 company
QCOM 170.90-1.3%Nov 7 9:30 AM EST
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To: Ramsey Su who wrote ()6/26/2000 4:37:00 PM
From: Ruffian  Read Replies (6) of 13582
 
NAZARETH, Israel (Dow Jones)--The chairman and chief executive of Nokia Corp.
(NOK) said Monday that one of his biggest concerns is that "we are not as quick
as we were six years ago," when the company had half the 56,000 employees it
has today.
"You start to believe that what you created three years ago is so good,
because it was good two years ago and 18 months ago, and you continue to make
money," Jorma Ollila told an Israeli news conference.
"And then there's someone in Israel and Silicon Valley just loving to kill you
with a totally new technology," Ollila said. "And I think the problem in a big
organization is that it starts to feed information internally that sort of
supports its own internal truths and doesn't believe all the signals that you
are getting.
"I don't think we were quick enough to invest big enough in CDMA (Code
Division Multiple Access)," Ollila continued. "We should have done that
earlier, more. Now we have a catch-up game, which we will win. We have decided
we will win and we will. But it's a little bad to miss 18 months. And part of
it is that we were successful in other technologies. So I think that is a big
problem.
"With a big organization, you start creating your own truths," he concluded.
"I'm not overly worried. But I am worried because human nature is like that."
-By Amy Teibel, Dow Jones Newswires; 972-2-537-6985; amy.teibel@dowjones.com

(END) DOW JONES NEWS 06-26-00
04:29 PM- - 04 29 PM EDT 06-26-00
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