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To: stomper who wrote (86793)	3/28/2001 11:03:16 AM
From: marginmike	Respond to of 436258

I think its irrelevent, because Korean growth will be based on Replacement phones upgrading to 1XRT(new chip 56k blah blah blah). The new SUBS growth is minimal anyway. Also another BIG misconception about QCOM is that its KOREAN biz is based domesticly. Korea is also a big exporter of CDMA phones so even when Domestic demand declines Exporting increases(cause their manufacturers keep increasing production). There is NO WAY Qcom missise this quarter. Qcom MGMT has gone on record saying that They mis estimated last quarter's subs number by like 30%. Therfore they have 30% of their last quarter royalties pushing forward to cushion any softness. I would also mention CHINA UNICOM increased its buildout estimate by 30% as well. They might have a tight guidence, but the quarter is in the bag. i would also mention the 3G concerns have been recently relieved by announcements from SPRINT/VERIZON/AWE/DOMOCO that they are moving ahead with buildouts NOW. Can Q lower for next quarter, yes, but they will make their number over the next 12 month unless we get real TL &EV. Qcom is also speaking at a conf today so Q could reverse if something GOOD comes about CHINER or a denial of this Korean story.