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Technology Stocks : Qualcomm Incorporated (QCOM)
QCOM 175.07+2.6%Dec 3 3:59 PM EST
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To: Alex S who wrote (12377)7/15/1998 9:55:00 AM
From: AnnAbor_Q  Read Replies (1) of 152472
 
Alex S:

I am also new to the thread although I have been reading the comments on the board since I invested in Q. I registered so I can respond to your question.

Cellular phones are almost a necessity in Korea and a status symbol. But since so many people have them these days, it is becoming less of a status symbol and more of a necessity. It is a necessity in Korea because it is almost impossible to reach a destination in the city of Seoul on time. Do to massive traffic jams, it will take nearly an hour to travel 3 to 4 mile during rush hour. Consequently, people need cellular phones to keep in touch with friends and business associates when they are running late. Furthermore, the price of cellular phones have come down drastically. I would estimate anywhere from 40 to 60% since last year. This is allowing teenagers and most working people to buy cellular phones. When I was there last month, I was very surprised to see so many high school and college students caring cellular phones since they were in the middle of a severe economic problem.

I believe the demand for cellular phones in Korea and Japan will continue to increase and it is recession proof.

By the way, I am a Korean-American and travel to Korea regularly for business.

Good Luck to all. I loaded up on Q since I returned from Korea and expect a good earnings report this quarter and future quarters.

Michael
Sorry to be another Michael on the thread.
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