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: Robin Plunder who wrote (103315)	8/28/2001 7:54:50 AM
From: John Carragher	Read Replies (1) \| Respond to of 152472

Dow Jones Newswires Vietnam OKs Mobile Phone Deal With S Korean Consortium HANOI (AP)--Vietnam's government has approved a major mobile phone deal with a South Korean consortium using U.S.-developed code division multiple access technology, or CDMA, an official said Tuesday. The decision allows Saigon Postel Co., a semi-government entity, to proceed with a contract with South Korea's SLD Telecom consortium to develop a mobile phone network in Vietnam, the official in the General Department of Post and Telecommunications said. The South Korean consortium, led by SK Telecom Co. (Q.KMT), also includes LG Electronics Co. (Q.LGE) and Dongah Elecomm. A Saigon Postel executive said the project, with an expected investment of $230 million, will be launched by the middle of next year. Under the contract signed last year, the two sides will split pretax profits. Currently, there are two state-owned mobile phone operators in Vietnam with a total of about one million subscribers. Both use the European-developed GSM standard, or global standard for mobile communications system. SK Telecom's new CDMA 2000-IX system is one of the most advanced wireless technologies in commercial use in the world. The system is in use in Australia, Brazil and Mongolia. China has recently approved it. CDMA, developed by Qualcomm Inc. (QCOM) of the U.S., has never dominated the world market for wireless technology, but the new version is expected by some to supplant GSM as the most popular format. SK Telecom is South Korea's biggest wireless phone service provider with 12 million subscribers. SK Telecom expects that Vietnam's mobile phone market will grow to four million by 2005 and 10 million by 2010. It aims to grab 40% of the market by 2010. It also plans to use Vietnam as a foothold to move into neighboring Cambodia and Myanmar.