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Technology Stocks : Qualcomm Moderated Thread - please read rules before posting -- Ignore unavailable to you. Want to Upgrade?

To: John Biddle who wrote (32096)	2/6/2003 5:47:27 PM
From: John Biddle	Read Replies (1) \| Respond to of 197246

SK Telecom shares slump as it pushes ahead with spending plan channelnewsasia.com South Korea biggest mobile phone, SK Telecom, has rebuffed shareholder pressure to cut a controversial spending programme worth US$2.1 billion. The announcement sent SK Telecom shares plunging 6.1 percent to close at 170,500 won. The company said it had completed reviewing its 2003 investment plan and would stick to plans to invest 2.5 trillion won (US$2.1 billion) in 2003. But it would stay flexible on spending on third generation (3G) networks. Last month, SK Telecom announced plans to raise 2003 capital spending this year by almost 30 percent to upgrade its wireless networks. It plans to roll out 3G services using W-CDMA technology by year end. But analysts say spending heavily on 3G may not be a good idea, at a time when the return on investments is uncertain.