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Technology Stocks : Qualcomm Incorporated (QCOM)
QCOM 174.80+0.3%Dec 5 9:30 AM EST
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To: Dan Ross who wrote (6332)12/12/1997 7:34:00 PM
From: Richard Tuck  Read Replies (1) of 152472
 
Dan,

That is a good point about the financing. With their large debt load, Korea's manufacturer's basically off-loaded their currency risk onto the banks. Still the component costs are on-going and non-captive components (like Qualcomm's ASICs) are going to cost twice as much in wons. Even in-house produced components are going to cost somewhat more in wons due to rising material costs.

Finally, future capital investment money will need to come from profits or non-Korean banks because there will not be much Korean bank money to be had from this point on.

Richard
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