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Technology Stocks : Qualcomm Moderated Thread - please read rules before posting
QCOM 165.07-1.0%3:59 PM EST
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To: Ramsey Su who started this subject5/29/2001 7:16:50 AM
From: foundation  Read Replies (1) of 196668
 
LG Electronics wins 50 mln usd order for CDMA2000 1X systems from Monet

Story Filed: Tuesday, May 29, 2001 12:21 AM EST

SEOUL, May 29, 2001 (AFX-Asia via COMTEX) -- LG Electronics Inc said it has signed
a contract with Monet Mobile Networks to supply 50 mln usd worth of 2.5G synchronous
CDMA 1X systems over three years to 2003.

Wireless internet data service provider Monet plans to launch commercial services in the
central U.S. in December with LG's equipment after completing system deployment and
trial operation.

"Monet plans to become a nationwide wireless internet data service provider with the
acquisition of additional licenses in other regions in the U.S. ... This means that our
equipment supply to Monet will most likely expand in the future," LG Electronics executive
vice president Jung-kwon Park said in a statement.

The company said that the contract will gain the company recognition for its technological
strength in the U.S., boosting its opportunities for a strong presence in the U.S. 3G
market.

It added that it plans to use the contract as a "springboard in expanding its presence in
the global synchronous CDMA2000 1X system market as the industry leader."
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