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Technology Stocks : Qualcomm Incorporated (QCOM) -- Ignore unavailable to you. Want to Upgrade?

To: Don Edgerton who wrote (44022)	10/11/1999 6:12:00 AM
From: puborectalis	Read Replies (3) \| Respond to of 152472

The good news never ends...Qualcomm Sees 600,000 Globalstar Satellite Clients in 1st Operating Year By Adri den Broeder Qualcomm Sees 600,000 Globalstar Satellite Clients in 1st Year Geneva, Oct. 11 (Bloomberg) -- Qualcomm Inc. said it expects Globalstar Telecommunications Ltd., the satellite telephone operator for which it's making equipment, to have 600,000 customers by the end of the first year of operation. Globalstar, 45 percent-owned by Loral Space & Communications Ltd., formally announced the availability of its service at the Telecom '99 conference in Geneva. Globalstar counts No. 1 wireless-services company Vodafone Airtouch Plc among its partners. Qualcomm said it's optimistic about prospects for Globalstar because its strategy is different from that of Iridium LLC, which defaulted on bank loans in August after failing to attract enough users to its 66-satellite global phone network. ''We don't see our target as the international business market -- that was part of Iridium's problem,'' Jerry Beckwith, president of Qualcomm Wireless Systems, told journalists. ''We see our market as developing nations and rural areas.'' Global broadband satellite revenue will grow to $37 billion in 2008 from about $200 million this year, according to research from Pioneer Consulting. Qualcomm Chief Executive Irwin Jacobs told Bloomberg News last month that Globalstar could reach a million customers in ''a year, optimistically, but probably more than a year.'' He said that the commercial introduction of Globalstar's services is likely to be in the first part of 2000. San Diego-based Qualcomm said separately today it still plans to reach agreement on the sale of its phone-making business by year's end. It didn't name the potential buyers.