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Technology Stocks : Ericsson overlook? -- Ignore unavailable to you. Want to Upgrade?

To: Mika Kukkanen who wrote (3619)	8/17/1999 1:11:00 PM
From: Jim Oravetz	Respond to of 5390

DJ Ericsson CEO Hellstroem Optimistic About Future - Report Dow Jones Newswire STOCKHOLM(Dow Jones)--In his first interview since being appointed president of LM Telefon AB Ericsson (ERICY), Kurt Hellstroem told Swedish national daily Svenska Dagbladet that his chief responsibilities will be to tighten cash flow, create a profit for mobile telephony and find a successor. Over the past twelve months, cash has flown out of Ericsson at a rate of SEK2 billion a month. This isn't an acute crisis, Hellstroem told the paper, but it could lead to a fiasco if it isn't taken care off. As for the absence of profit for mobile telephones, Hellstroem is optimistic about the future. The T28 will make its mark on results for the third and fourth quarters when it appears on the market, he told the paper. He is also counting on Ericsson to dominate the market in mobile datacommunication once their new system is fully established, the paper reported. "Until now, we've taken close to 50% of all GPRS contracts and we know from our clients that Ericsson lies far ahead," Hellstroem told Svenska Dagbladet. Hellstroem will turn 60 in fours years, at which point he will be entitled enforce his pension agreement. "One of my most important tasks is to find a successor for the CEO seat," he told the paper. (Corrected 0859GMT) Kurt Hellstroem is president of LM Telefon AB Ericsson (ERICY). Jim