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Technology Stocks : Nokia (NOK) -- Ignore unavailable to you. Want to Upgrade?

To: carranza2 who wrote (13415)	7/5/2001 3:22:20 PM
From: S100	Read Replies (2) \| Respond to of 34857

Bank Of Nokia still open [may have been posted and I missed it] Nokia says may keep vendor financing at high levels 7/5/01 8:42 AM Source: Reuters By Paul de Bendern HELSINKI, July 5 (Reuters) - Telecoms equipment maker Nokia said in a recent government filing it may keep up a high level of financing to operators of third generation (3G) mobile networks, which could affect its working capital in future. "We have provided, arranged, or committed to provide some long-term financing to selected customers in the past, and we expect to continue to provide vendor financing at a greater level than historically," Nokia said in a filing with the U.S. Securities and Exchange Commission (SEC). "The size and number of vendor financings that may be required, particularly for 3G telecoms operators... (may) have a signficant impact on our working capital," the statement said. The Finnish company added that this may also subject it to different magnitudes of credit risks than in the past. Like rival Ericsson -- the world's largest mobile network equipment maker -- Nokia is providing hundreds of millions of dollars in lending to clients, also called vendor financing, to win orders at a time when carriers are already heavily indebted. Such deals put pressure on equipment makers, increasing their working capital and reducing cash flow. The Finnish company confirmed on Thursday the filing had been made on June 28, but added that comments in the filing were in line with previous statements. In April Nokia, the world's largest manufacturer of mobile phones and a leading supplier of wireless network equipment, said it would remain cautious on vendor financing and that it did not plan further large deals. "We're taking a conservative approach, and our big financing deals are behind us," Nokia Networks spokeswoman Arja Suominen told Reuters on Thursday. BENEFITS OF VENDOR FINANCING QUESTIONED Analysts and investors have questioned the benefits of providing large loans when carriers have already spent billions of euros on 3G licences in Europe; economic growth and demand have slowed; and wireless technology stocks are suffering. Wireless stocks also have been reeling because of fears there will be delays in launching and selling the much-awaited 3G networks, which are being designed to bring advanced multimedia content to mobile phones. Nokia said in its filing, which centered on the company's 2000 earnings report but also provided an outlook beyond that year, that vendor financing to operators had become a competitive requirement and could affect the group's net sales, profits, operating results, balance sheet and cash flow. But analysts say it may be easier for cash-rich Nokia to handle its financing programme than for unprofitable rivals such as Ericsson, which has found it hard to make ends meet. Nokia's three main customers in terms of committed vendor financing for high-speed 3G network systems are MobilCom AG in Germany, Hutchison 3G UK, and Orange SA, including some of its subsidiaries and affiliates in several European countries. The total aggregate value of financing committed as of May 31, 2001 for these and other 3G customers amounts to about 3.6 billion euros ($3.0 billion), although disbursements will be spread over several years, the statement said. Nokia has also undertaken financing to carriers operating current second-generation networks, including GSM (Global System for Mobile Communication). Nokia said it has committed about 2.0 billion euros in financing for 2G and other technologies. Like rival Ericsson, Nokia said it hoped to get financial institutions and investors to take over some of the financing, reducing its exposure. Nokia hopes to overtake Sweden's Ericsson as the leading provider of 3G network equipment. Ericsson -- whose Chief Executive Kurt Hellstrom recently said "We're not a bank" -- has about 20 billion Swedish crowns ($1.83 billion) committed so far in vendor financing. (Additional reporting by Jan Strupczewski in Stockholm). news.cnet.com

To: carranza2 who wrote (13415)	7/5/2001 4:31:58 PM
From: 49thMIMOMander	Respond to of 34857

I am writing freely associative text in most cases, can also be seen as polite, leave it to the reader to interprete and decide on the object, the cat or what the cat brought in. However, my code is clear and well defined, at least efficient. Ilmarinen Btw, the finnish language is very exact, or at least more exact than many other languages, one can for example clearly specify if: - Q makes (produces) chips - Q has somebody else make the chips - Q has somebody else make somebody third make the chips - Q has somebody else make somebody third make somebody fourth make the chips. tehdä teettää teetättää teetätyttää and maybe even teetätytättää Which also defines the depth of any functioning organization, but doesn't cover outsourcing. Additionally there is a clear distinction between the personal, specific "you", the plural "you" (like "we") and the just any unspecified anyone in general. The favorite finnish sentence by our national english hero, Neil Hardwick, is "alavilla mailla hallan vaara", on low lands (there is) a danger of frost (10-25%) When the sky is clear (clarity) and heat escapes out into space without covering clouds, no wind, cold air comes drifting, tumbling down the hills, like now for Marconi, somewhat similar "invertion" as trapped CA fog??. (The ones higher up the hillside do much better) That was and is the worst for farmers, one night and the investments of that year is gone. (same for orange growers in US, Florida, don't know about orange in UK??)

To: carranza2 who wrote (13415)	7/5/2001 5:49:37 PM
From: S100	Read Replies (2) \| Respond to of 34857

You are familiar with the old saying, "Do as I say, not as I do"? Besides, there seems to be a lot animosity toward Jolly Old England and their press. After all, if it had not been for the British stiff upper lip, Europe would not be much concerned much with 3G but with a different 3. Seems to be very hard for some to acknowledge this bit of history. Some "Very Important Countries" rolled over in a week or so. The recent sniping at England's driving scheme shows a complete lack of understanding as shown by this snip from a Major CDR program's user list. "For roads we use miles but most of everything else is metric. We actually drive on the correct side of the road, Washington and Napoleon decided to drive on the wrong side of the road to annoy us. The idea is simple, 90% of people are right handed and as such when driving your horse and cart the whip is, 9 times out of 10, in the right hand. So when you get to a peasant blocking the road you want the whip to be near the outside of the vehicle so that you can use it to clear the way. Now, I have had some of my American friends point out that they prefer to use guns for this these days, which is fine, but 90% of people would still be right handed and thus would need to be sat on the right of the car in order to shoot otherwise they would be blowing holes in the wind-screen. We can thus prove that driving on the left in right hand drive cars is the natural order of things and is the way things should be." Link provided on request. I can vouch for the use of guns in US, drive by shootings are a common occurrence.