"China market will drop to one half their total sales in 05..."
That's exactly the kind of information they present. The questions remain: 1) China earnings? 2) Total earnings?
The big jump in sales is through Audiovox/Pantech-Curitel, as depicted in the $1.6 billion order (might be less, depending on how much they initially move).
"If it is all true, I think they can easily beat the Siemens/Alcatel/Lucent/Nortel people."
It all exists, but what is their IPR or any other advantage? Compared to the reach, partnerships, resources and ongoing leading technology experience of the competitors (including Huawei and ZTE) they seem very disadvantaged to me. They have fallen back in the DSLAM category where they claimed tremendous potentials over the past two years. I haven't seen anything come to earnings from the claimed potentials in India, those end-to-end global solutions, the 3G "expertise".... Very hard to read whether it's all "true". What is true is that they have had two years of windfall cash flow in China strictly from PAS, and have put some of that money to work via acquisitions, some of which will increase revenues.
Howard, I'm not sure what the basis would be of faith in management here, if it's not deal-making inside China. They certainly have no lock on any of the technology they offer, with waning leadership only with PAS. |
