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Technology Stocks : Nokia (NOK)

NOK 6.910

-0.9%

3:59 PM EST

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To: Paul Shread who wrote (918)	8/21/1998 11:49:00 AM
From: tero kuittinen	Read Replies (1) of 34857

Yeah... the Russia factor in Nokia's valuation is almost pure psychology and the Norway factor is even more esoteric... I can understand how the ruble devaluation will hit other oil countries like Venezuela and Norway, but just how this is linked to Finland is a conundrum. Of course, if you take out a map, Finland is right there between Norway and Russia, so it all makes some kind of sense. Some people say it's possible that after speculators have had their way with the Russian ruble and South American currencies they might attack weakest European currencies next... which might include Finnish markka, even though it's already linked to EMU. I say, be my guest. Nokia's highest value added products are still manufactured in Finland and many of their components like antennas and filters come from small Finnish contractors that have mushroomed around Nokia. Any devaluation would translate into higher profit margins of most sophisticated network equipment and phone models like 8810 and 9110, which are made in Finland. Possible Hungarian and Estonian devaluations would have the same effect on mid-line products like 6100 phones. Tero

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