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Politics : Formerly About Applied Materials -- Ignore unavailable to you. Want to Upgrade?

To: StanX Long who wrote (63114)	4/23/2002 11:14:33 PM
From: StanX Long	Read Replies (1) \| Respond to of 70976

Qualcomm Falls as S. Korea Phone Sales Seen Dropping (Update4) By Scott Lanman quote.bloomberg.com San Diego, April 23 (Bloomberg) -- Qualcomm Inc. shares fell 7.9 percent on a report its customers' sales of mobile phones in South Korea are plunging this month because the government cracked down on wireless operators' illegal discounts on handsets. The shares dropped $2.78 to $32.25, bringing the decline this year to 36 percent. So far, 2002 is the stock's third straight losing year after surging 27-fold in 1999. Almost all mobile phones in South Korea, Qualcomm's second- biggest market, run on the company's chips and patents. Samsung Electronics Co., Qualcomm's top customer, said it will sell about 1 million phones this month, down from 1.58 million in March, the Korea Herald reported in tomorrow's edition on its Web site. ``There's going to be some impact (on Qualcomm), but we've been unable to quantify that impact to date,'' said UBS Warburg analyst Jeffrey Schlesinger, who rates the stock a ``buy'' and doesn't personally own the shares.