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

To: gdichaz who wrote (4727)	5/17/2001 1:04:27 PM
From: Jim Oravetz	Read Replies (1) \| Respond to of 5390

Ericsson's Priority: Getting In The Cash By TechWeb Finance May 15, 2001 (8:56 AM) URL: techweb.com Telecom equipment maker Ericsson AB (stock: ERICY) has shifted priority from getting new orders to bringing in money for orders already won as it fights to return to positive cash flow, company sources said on Tuesday. The Swedish group's change of strategy could make it easier for archrival Nokia AB (stock: NOK) to snatch the lead in sales of third-generation mobile network equipment from Ericsson, struggling to return to profit amid losses on handsets and falling demand for mobile networks, its main source of revenue. Ericsson, the world's biggest producer of mobile networks and fourth-biggest handset supplier, reported a cash drain of $1.72 billion in the first quarter. This is mainly because its customers, hit by slowing growth of the global economy and the high costs of 3G licenses, are delaying payments.