Qualcomm Incorporated (QCOM) Message Board

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Technology Stocks : Qualcomm Incorporated (QCOM)

QCOM 181.30

-0.5%

3:59 PM EST

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To: dougjn who wrote (6522)	12/15/1997 5:24:00 PM
From: Brian Lempel	Read Replies (3) of 152472

e-mail from QCOM VP: 1. Are royalty payments out of Korea based on the Won? YES BUT ONLY FOR PHONES MANUFACTURED BY KOREAN MFRS AND SOLD DOMESTICALLY IN KOREA. SAMSUNG EXPORTS PHONES TO THE U.S. BUT THOSE ARE NOT AFFECTED BY THE WON DEVALUATION. Do you hedge against currency fluctuations, thereby minimizing the risk? NO BECAUSE THE WON IS NOT AN EASILY HEDGEABLE CURRENCY (IT IS CONSIDERED AN EXOTIC CURRENCY) AND CANNOT BE HEDGED FOR LONG PERIODS OF TIME IN ANY CASE THEREFORE ANY POTENTIAL HEDGES WOULD BE EXPENSIVE AND SHORT-LIVED. THE DEC. QTR CONSENSUS HAS BEEN $.50 BUT TODAY PROBABLY WENT A LITTLE LOWER BECAUSE A FEW ANALYSTS LOWERED THEIR NUMBERS. WE WILL ISSUE A STATEMENT MONDAY MORNING ON THE CURRENCY CRISIS AND ITS EFFECT ON QCOM. Just got the e-mail, although it was dated Friday. Sometime my ISP makes me wonder... Oh well. Any comments from you veterans? Brian

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