Nortel Highlighted in Wireless Fund, specifically for its 3G products:
SAN DIEGO, Jan 23, 2001 /PRNewswire via COMTEX/ -- "It has been very encouraging to see companies involved in next generation communications and wireless infrastructure communications report solid earnings," states Jeffrey R. Provence, manager for Wireless Fund (Nasdaq: WIREX)
Nortel Networks (NYSE: NT) last Thursday posted a 24 percent gain in fourth-quarter profit from operations amid solid sales of fiber-optic and wireless equipment. Nortel expects large-volume availability of its 3G products, or third generation of wireless products, in 2002, with the company deriving some revenue from a limited debut toward the end of this year.
"As we get closer to the roll out of 3G, we are seeing leading communications companies position themselves to benefit from next generation wireless networks," states Provence.
On January 16, 2001, TranSwitch Corporation (Nasdaq: TXCC), a leading developer and global supplier of innovative high-speed VLSI solutions for communications applications, announced that it has entered into a strategic technology partnership and OEM agreement with Intellectual Capital for Integrated Circuits, IC4IC, a privately-held, Israel-based company, which specializes in designing, developing and marketing VLSI solutions serving the wireless internet market segment for multi-access platforms. The first IC4IC chip set is targeted at supporting a cost-effective network infrastructure for mobile Internet services via highly integrated, multi-layer transport and service processing.
"Clearly, more and more companies are allocating resources to take advantage of the wireless revolution," states Provence.
More information on the wireless revolution can be found atwww.wireless-fund.com
Wireless Fund is available from many of the major mutual fund supermarkets, including Charles Schwab, Morgan Stanley Dean Witter Online, Fidelity, TD Waterhouse, DLJ Direct, E*TRADE, Ameritrade, Accutrade, Amerivest, American Express and many other brokerage firms through FundServe. Shares of Wireless Fund may also be purchase directly from Wireless Fund by visiting the web site at www.wireless-fund.com and printing out the online application.
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