Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: marginmike who wrote (67854)	2/24/2000 12:29:00 PM
From: Ed Forrest	Read Replies (1) \| Respond to of 152472

<<He is part of the problem instead of being part of the solution.>> Mike The sad part is that he knows it.His post of a few moments ago is that of a taunting child,not a mature adult.Mores the pity. Cheers Ed

To: marginmike who wrote (67854)	2/24/2000 2:54:00 PM
From: Ruffian	Read Replies (1) \| Respond to of 152472

<The CDMA networks are a cornerstone of China Unicom's plans for a multi-billion-dollar initial public offering planned for Hong Kong and possibly New York in May.> By Matt Pottinger BEIJING, Feb 24 (Reuters) - China has inexplicably delayed the rollout of mobile phone networks that use technology owned by U.S.-based Qualcomm Inc, threatening one of China's largest ever stock listings, foreign executives said on Thursday. The hold-up came just one week after Qualcomm (NasdaqNM:QCOM - news) signed an agreement in Beijing paving the way for China's number two state carrier China Unicom to build a national network using the CDMA mobile standard. The CDMA networks are a cornerstone of China Unicom's plans for a multi-billion-dollar initial public offering planned for Hong Kong and possibly New York in May. Qualcomm owns the patents for CDMA, and would stand to earn hefty royalties from last week's licensing agreement with China Unicom. One foreign executive said Chinese government officials told his company of the CDMA freeze. ''It only happened in the last 48 hours,'' he said. ''It's very likely that this postponement could carry on for a while.'' The news from Beijing sent Qualcomm shares tumbling 11-11/16 to 135-3/16 on Thursday on Nasdaq volume of 14.2 million shares. A HOSTAGE OF WTO? The Wall Street Journal quoted executives saying the move might be a bargaining tactic by Beijing as the U.S. Congress prepared to debate China's entry into the World Trade Organisation (WTO). Congressional support has been thrown into doubt by China's threat on Monday to invade Taiwan if it dragged its heels indefinitely on talks aimed at reunification. China may also be banning current generation CDMA networks altogether in an attempt to funnel resources into development of so-called ''third generation'' CDMA networks that offer more sophisticated services, the foreign executive told Reuters. Unicom has planned to roll out an 11 million subscriber-capacity CDMA network based on the current technology by the end of the year. But 3G networks would take months, or even years, to begin deploying on a large scale, analysts have said. China has made no public announcement of the delay. State media gave prominent play to the Qualcomm deal last week. Qualcomm issued a statement in Beijing, but made no mention of the freeze. ''Qualcomm is confident in the IPR CDMA framework agreement with Unicom, and is committed to continuing to build a strong and mutually beneficial working relationship with China Unicom and Chinese domestic manufacturers,'' the statement said. Foreign manufacturers such as Lucent (NYSE:LU - news), Samsung Electronics Co , Nortel Networks (Toronto:NT.TO - news) and Motorola Inc (NYSE:MOT - news) stand to win large contracts if CDMA networks go ahead. A Lucent spokesman said the company had received no official notice of the freeze, but said Unicom ended a round of talks on a contract bid by Lucent on Thursday with no plans for resumption. ''They told us that was the end of the negotiation on the first round, and we'll have to await further notice,'' said the spokesman, H.T. Kung. ''They didn't tell us when or how we should move ahead,'' he said. More Quotes and News: Lucent Technologies Inc (NYSE:LU - news) Motorola Inc (NYSE:MOT - news) Nortel Networks Corp (Toronto:NT.TO - news) Qualcomm Inc (NasdaqNM:QCOM - news) Related News Categories: Canadian Market News, IPOs, US Market News