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

To: Terry D who wrote (4379)	10/31/2000 8:46:00 AM
From: Jim Oravetz	Respond to of 5390

Stockholm, Oct. 31 (Bloomberg) -- Ericsson AB unveiled a new cellular phone aimed at the youth market that will let users chat on the Internet and send electronic postcards to help curb losses at its phone-making unit. The phone, called T20, will be on the shelves next month, Ericsson said at a Stockholm press conference. That's less than a month after the company said it would narrow its range of models and move production to some low-cost nations, raising expectations it is planning to quit the phone business altogether. Ericsson is struggling to make money on its phones, partly because it has been slower in introducing new models than bigger rival Nokia Oyj. Now consumers are waiting for phones based on General Packet Radio Services, a technology that lets users be constantly linked to the Internet. The T20 doesn't support GPRS. The T20 is compatible with the Wireless Application Protocol, which provides Web-like services for mobile phones. With WAP and today's wireless networks, users will need to dial up every time they want to reach the Web. Mobile phone companies and makers of handheld computers are vying to take advantage of an expected increase in demand for devices that can reach the Web through cellular phones. Ericsson, the world's largest maker of wireless networks and the No. 3 cell- phone maker, expects 1 billion mobile Internet users in 2005. Ericsson shares rose 2.5 kronor, or 2 percent, to 128.5. The stock has declined 15 percent since Oct. 19, the day before the Swedish company slashed forecasts for sales and profitability this year because of losses from making mobile phones