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To: Jorj X Mckie who wrote (56708)	6/9/2002 5:31:38 AM
From: SirRealist	Respond to of 208838

>>Basically, I wouldn't touch it either direction.<< Good advice Jorj. If 1510 can hold now, we may get a brief covering rally. Otherwise, someplace between 1275-1350 should come the next bottom. And 1600-1660 provides impenetrable resistance at its high point, for now.

To: Jorj X Mckie who wrote (56708)	6/10/2002 1:10:44 AM
From: 2MAR$	Read Replies (1) \| Respond to of 208838

Qualcomm CEO sees 3-4 mln China CDMA users in '02 biz.yahoo.com By Tony Munroe HONG KONG, June 10 (Reuters) - Qualcomm Inc <QCOM.O> chairman and chief executive Irwin Jacobs said on Monday he expects the new mobile network in China based on his firm's CDMA technology to enlist three to four million users this year, roughly half the carrier's target. "Obviously they have had problems getting enough handsets initially, and then getting them at the right price, and so I think they're working through these issues," Jacobs said, referring to state-owned carrier China United Telecommunications and its listed subsidiary China Unicom Ltd <0762.HK>. Launched in January after years of wrangling between Beijing and Washington, Unicom's CDMA network has been slow to attract new subscribers in a market dominated by the rival European GSM standard. "I think it's just really beginning," Jacobs said in an interview ahead of this week's 3G World Congress industry event here. "They managed to get the network in place fairly rapidly for such an extensive network. They've been tuning it up." Slow uptake of CDMA in China has weighed on the shares of China Unicom, which is leasing CDMA capacity from its parent in the 12 provinces where it also operates a GSM network. China Unicom shares were down 0.69 percent by late morning on Monday at HK$7.15, just above their year low and roughly half their 52 week peak of HK$14.20. China Unicom, which is the lower-cost carrier in China's mobile phone duopoly, has positioned CDMA as a high-end service in an effort to win lucrative customers from bigger rival China Mobile (Hong Kong) <0941.HK>. "They've been targeting high-end users, initially, and that's a tough sell in a sense because those people that currently are on GSM and move over to CDMA, they would typically have to change their telephone number since there's not number portability, so you need some special things to bring them over," Jacobs said. He said such advantages will emerge when the CDMA network begins offering location-based services -- such as map downloads based on where the caller is at that moment. Unicom is also expected to begin upgrading its CDMA network to the higher data capacity "1x" technology later this year. "They're certainly focused on trying to meet their own goal of seven million subscribers. Clearly that's a difficult goal to meet," Jacobs said. "We've been estimating roughly three to four million, but we'll certainly be supporting them as far as trying to achieve that," he said. He declined to give CDMA targets in China for next year. Qualcomm collects royalties on sales of CDMA-standard network gear and handsets. CDMA, short for code division multiple access, is widely viewed as a more efficient technology than the more popular GSM standard. In late May, the company reiterated sales and earnings guidance for the current quarter and year, which incorporates its expectations for the China market. It expected pro-forma earnings in the quarter ending June 30 to be between 21 to 23 cents a share. In its 12 listed provinces, China Unicom managed to attract just 130,000 CDMA subscribers in April, putting it on track to fall short of its year-end target for those provinces of 4.6-4.7 million users. Nationwide, China's CDMA network built last year has capacity for more than 15 million users, with planned expansion to 50 million users over the next few years. Shares in San Diego-based Qualcomm rose 0.36 percent on Friday to close at US$30.87, less than half their year high of $68.87. ((Hong Kong newsroom +852 2843-6358; fax +852 2845-0636 hongkong.newsroom@reuters.com)) REUTERS * end of story *