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Technology Stocks : Nortel Networks (NT) -- Ignore unavailable to you. Want to Upgrade?

To: David Kelly who wrote (2965)	7/2/1999 7:41:00 AM
From: Kenneth E. Phillipps	Read Replies (1) \| Respond to of 14638

Technology News Fri, 02 Jul 1999, 6:15am EDT Nortel Gets $175 Million Equipment Order From Taiwan's Chunghwa Telecom By George Hsu and Chad Rademan Nortel Gets $175 Million Equipment Order From Taiwan (Update1) (Updates with timing details on equipment purchases, subscriber base expansion; background on Taiwan mobile market) Taipei, July 2 (Bloomberg) -- Nortel Networks Corp., North America's No.2 telecommunications equipment maker, will sell $175 million worth of cellular phone equipment to Taiwan's Chunghwa Telecom Co., helping the state-owned telephone company expand its mobile network. Chunghwa, which now has about 2.7 million customers, said it hopes to increase that number to three million by the end of this year, four million by the end of 2000, and eventually five million -- the maximum the new equipment can handle. ''We have added a record 1.2 million subscribers since 1998,'' said Chunghwa President Lu Shyue-ching. ''Nortel has done an exceptional job in the rapid development of network infrastructure to solve Chunghwa's urgent capacity needs.'' Slightly less than one in three Taiwan people use mobile phones, according to government figures -- a penetration rate far lower than in Hong Kong and Singapore, suggesting that Taiwan may see strong growth in coming years. The island has about 6.5 million mobile subscribers, up from about 1.5 million in late 1997. Chunghwa said it will also use the equipment to integrate its two existing GSM networks into a dual-band network. The company will take delivery on the equipment within the next six months. Nortel, which also the world's third-largest wireless equipment maker, now claims 11 percent of Asia's wireless market. The company sold $17.6 billion of products and services in 1998, about 15 to 20 percent of which was in Asia.