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Technology Stocks : Nokia (NOK)

NOK 6.970

+2.0%

3:59 PM EST

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To: slacker711 who wrote (6784)	8/2/2000 3:27:08 PM
From: slacker711	Read Replies (1) of 34857

Been away for a while, and just got a chance to listen to the CC. Here is what I took away.... - They estimate "well above" 400m handsets will be sold during CY2000. They is an upward adjustment from the estimate given in Dec. of '99. I think that Gus has mentioned an estimate of 600m handsets....I dont know where that comes from. - The lower guidance given for the third quarter was entirely attributed to the slow roll-out of new models. They expect to be shipping the 6210 "in volume" by September. The 4th and 1st quarters should have a high proportion of new models....in other words margins should be back to normal after the third quarter. - R&D expenses were relatively high in the 2nd quarter (9.7%)....should average around 9% for the year. - ASP's were very firm in the second quarter but will see more normal declines during the third quarter due to product mix. - They still expect to gain marketshare during the 3rd quarter. - GPRS shipments should begin ramping during the first half of 2000....I kind of wish they had a firmer date on this. - They are aiming to have 1xrtt phones available in late 2001 or early 2002. These phones will be Nokia developed phones and NOT Telson. - A couple of months ago Tero asked us to wait and see what the new Nokia CDMA models would look like....well, they are pathetic. Nokia announced the 5185i (available 3rd quarter) and the 6185i (available 4th Q)....unless I am missing something, these are derivatives of 2 year old models with browsers installed. A general point....Jorma indicated that being a couple of months behind in coming to market with new phones is not that big a deal. Tero has mentioned this before, that Nokia is not necessarily the first to market but that they learn from their competitors mistakes and come to market with better offerings. Not a bad strategy....but it does seem to carry some extra risk for investors. If Nokia misses their target date on GPRS phones (for example) by 3 months, it would be a pretty big deal....they could be as many as 6-9 months behind competitors. Hopefully the delay in the launch of the 6210 is a one-time event.... Slacker

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