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Technology Stocks : Qualcomm Incorporated (QCOM)

QCOM 174.01

-0.3%

Nov 14 9:30 AM EST

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To: llwk7051@aol.com who wrote (25840)	4/1/1999 9:15:00 PM
From: Boplicity	Read Replies (1) of 152472

WASHINGTON (April 1) - The number of Americans who subscribe to mobile telephone service grew a record 25 percent in 1998 to 69.2 million, an industry group said Thursday. The Cellular Telecommunications Industry Association said its figures showed a net gain of nearly 14 million wireless subscribers for 1998, exceeding the industry's own estimates by two million subscribers. The figures also surpassed the approximately 67 million Americans who subscribe to cable television service. ''We've always been bullish about the wireless industry, but the final numbers for 1998 are simply astonishing,'' association president Tom Wheeler said. Wireless services were attracting more customers with lower prices, better phones and batteries, and now-standard services such as voice mail and caller ID, Wheeler said. ''It's clear the stimulus behind this growth has been competition,'' he added. Wheeler predicted the vigorous growth would continue, fueled in part by the worldwide expansion of wireless communications. Agreements among wireless carriers around the world and easier international calling would make wireless phones even more appealing to consumers in the future, he said. Wireless service is also getting cheaper. The report said the average U.S. monthly bill fell to $39.43 at the end of December, down 7.8 percent from $42.78 a month at the end of 1997. The drop in prices did not hurt wireless companies. The jump in subscribers helped push their revenues 20 percent higher from 1997 to $33.1 billion in 1998. The length of the average wireless call also edged up slightly, from 2.31 seconds in 1997 to 2.39 seconds in 1998. About 27.8 percent of all wireless subscribers used a digital service. That was a 183.5 percent increase over digital subscribership in December 1997. The trade association surveys the number of wireless subscribers twice each year. Results are based on responses from more than 90 percent of wireless companies.

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