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Technology Stocks : Nokia (NOK)

NOK 6.480

-0.2%

Jan 9 9:30 AM EST

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To: q_long who wrote (18047)	1/30/2002 2:03:10 PM
From: Eric L	Read Replies (1) of 34857

q_long, << Eric et al what are the latest targets for NOK WCDMA handset shipments and to whom. Last I heard 2H 02' >> The target remains 2H 02, which is pretty consistent with what was stated 1 year ago at 2000 year ending earnings time (1/30/2001). That changed the guidance given 3 months earlier which stated the ramp would begin H1 02. The gotcha was that when the October 2000 guidance was given, it was anticipated that 'R99' would reach forward compatibility status with the December 'R99' release. That didn't happen. 'R99 - June 2001' is the forward compatible release that initial terminals (and infra) will be built to. At Capital Markets DAY in NYC in late November, Nokia drilled down on this a bit more. Nokia stated then that initial terminal shipments would be made in Q3, with "millions" shipping Q4 and the real volume ramp in H1 2003. This is essentially the same guidance that was given for GPRS terminals last year. Nokia continues to use the term "volume shipments" when describing 2H 02 shipments. I construe "volume shipments" in this case to be >2 million and <10 million. Evidently Nokia shipped "millions" of GPRS terminals as promised in 2001, but the number actually shipped was probably closer to 2,000,001 million than 3 million. <g> Best - Eric -

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