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

To: foundation who wrote (32617)	2/19/2003 7:35:29 AM
From: foundation	Read Replies (3) \| Respond to of 196984

Qualcomm positive about India, China REUTERS [ WEDNESDAY, FEBRUARY 19, 2003 11:34:03 AM ] CANNES: US mobile telecom technology maker Qualcomm said on Tuesday it expects continued strong growth in China and India, adding that its new chip for world phones could also provide a positive surprise. The company, which invented the CDMA mobile network technology and makes its money on selling CDMA chipsets and licences, saw explosive sales and profits growth last year on the booming demand in Asia. The firm expects further strong gains this year as China and India, the two fastest-growing mobile markets in the world, continue to expand. Qualcomm president and chief executive Irwin Jacobs told Reuters in an interview he expected "in India more than the seven million CDMA subscribers operators forecast by year-end" and 20 million in China. "Because penetration is much lower in India (than in China) there is room for significant growth... over the next several years," he said. The growth in the number of Chinese CDMA subscribers could slow down "this quarter and the next" as the operator China Unicom rolls out the more advanced CDMA 200 1X network but would reach its planned growth targets. "They are projecting 13 million additional CDMA subscribers this year, and after how they performed last year I have every reason to believe they will hit that number. There's potential for upside," he said. Jacobs, one of the founders of Qualcomm and an icon of the wireless industry, also said that it was trying to convince operators using the bigger rivaling GSM technology that they did not necessarily have to move into the third generation technology called UMTS. Meanwhile Qualcomm had signed up two top-five mobile phone producers to bring out a world phone using a new Qualcomm chip which allows a subscriber to roam between CDMA and the more popular GSM networks. "Its going to take people by surprise," Jacobs said, adding the company was also working on an even more advanced chip, which will enable users to roam throughout all networks, fast and slow. Jacobs said phones using the chip would appear in the third quarter from the first manufacturer and at the start of 2004 from the second, but would no disclose any names. economictimes.indiatimes.com