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Pastimes : The New Qualcomm - write what you like thread. -- Ignore unavailable to you. Want to Upgrade?

To: quidditch who wrote (727)	10/27/1999 8:49:00 AM
From: Ruffian	Respond to of 12254

Globalstar Shares Fall 11% on Delays in Handset Production Globalstar Shares Fall 11% on Delays in Handset Production New York, Oct. 26 (Bloomberg) -- Shares of Globalstar Telecommunications Ltd. fell 11 percent after the satellite- telephone company said it won't have as many phones at the end of the year as it first projected, casting doubt on subscribership. Globalstar shares fell 2 9/16 to 21 3/4. They've risen 8 percent this year, while the C.E. Unterberg Index of 22 satellite companies has risen 41 percent. Globalstar said it expects to have 35,000 to 50,000 handsets by year end, less than the 100,000 it first expected, analysts said. The problem mirrors a difficulty experienced by Iridium LLC, now under Chapter 11 bankruptcy protection, which also couldn't get a timely supply of its phones. Another satellite-phone company, ICO Global Communications Ltd., also has filed for bankruptcy protection. ''Due to the reliance on Globalstar's handset manufacturers...we are reducing our year-end 2000 subscriber forecast from 950,000 to 570,000,'' Morgan Stanley analyst Marc Nabi wrote in a research report. Globalstar's suppliers include San Diego-based Qualcomm Inc. and Ericcson AB of Stockholm. Nabi, who rates the stock ''outperform,'' also lowered his 2000 price target to $30 from $37. Globalstar will need 1 million customers by the end of 2000 to break even, Chairman and Chief Executive Bernard Schwartz said on a conference call. NYSE/AMEX delayed 20 min. NASDAQ delayed 15 min.

To: quidditch who wrote (727)	10/27/1999 9:16:00 AM
From: Ruffian	Respond to of 12254

Nortel/China by: trtl_racer99 10/27/1999 9:10 am EDT Nortel <NT.TO> opens first CDMA plant in China BEIJING, Oct 27 (Reuters) - Nortel Networks <NT.TO> has opened China's first production line for CDMA (Code Division Multiple Access) products, the China Daily reported on Wednesday. It said Canada-based Nortel's joint venture in the southern city of Guangdong would also produce GSM (Global System of Mobile Communications) products. It would produce CDMA and GSM network equipment, including components and parts, the newspaper said. Nortel increased investment in the production line to $217.5 million in April and would invest $8.0 million in a technical centre to specialise in developing wireless software, it said. A senior Nortel official said in June the company was to manufacture GSM and CDMA products in Guangdong because it feared the Chinese government would discourage the import of foreign-made CDMA equipment. 23:56 10-26-99