Good point, Dave. That's definitely a factor - but Nokia's P/E ratio based on -99 earnings is still dramatically lower than Dell's, Cisco's, Lucent's or Microsoft's. There is no reason whatsoever why a company such as Dell should have a higher P/E than Nokia - other than the nationality factor. Moreover, Nokia has pulled off three consecutive earnings *and* sales growth surprises. Fourth is coming. This ability to beat the street by a mile is what Qualcomm lacks.
Maurice, there is no way any company can afford to develop cdma2000 and W-CDMA phones simultaneously and get them to the shops among first. There is no doubt that for Nokia, a successor of GSM must be a priority. China and Japan are demanding W-CDMA very shortly.
Joar, sadly our cousins in Sweden are sometimes prone to envy and spiteful jealousy. Nokia's 6110 has been number one in Europe's leading mobile phone magazine's (Connect) thorough test score list for ten consecutive months now. The 8810 got rave reviews in the latest "Connect" and was tagged as a sensation in Sweden's "Mobil" magazine. 6150 was named the best dualmode phone by "Connect" and the Rolls-Royce of dual-mode phones by "Mobil". 5110 was among the best ranked cheap phones in both magazines. "Focus" and two French mobile phone magazines have also given Nokia top rankings since last spring.
These magazines (apart from "Focus") are professional mobile phone monthlies - their tests measure stand-by times, talk times, voice quality, etc. with scientific parameters. I'm afraid that some hack from Scandinavia's most notorious tabloid standing in a Stockholm subway tunnel doesn't reach the same standard.
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