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Technology Stocks : Qualcomm Incorporated (QCOM) -- Ignore unavailable to you. Want to Upgrade?

To: Mike Torrence who wrote (129315)	5/27/2003 9:00:58 AM
From: Dexter Lives On	Read Replies (1) \| Respond to of 152472

Wow! Did qcom give away the store to get the largest handset maker on board... ?!?

To: Mike Torrence who wrote (129315)	5/27/2003 9:43:00 AM
From: Art Bechhoefer	Read Replies (1) \| Respond to of 152472

At least one part of the answer to Scott Moritz's view is the fact that Moritz ignored QUALCOMM's years of experience in designing and manufacturing chips, compared with the relative inexperience of Nokia, TI and others, including even Motorola. The result of this experience gap is that QUALCOMM can introduce an entire new series of chips, each designed to maximize performance in a given market application, whereas TI/Nokia and others have trouble getting even one model on the market. Who says that the others can make chips at as low a cost as QUALCOMM? Perhaps they can SELL the chips at low prices, but then profit becomes a problem for them. If Nokia chooses to take a loss on chips in order to make a profit on plastic handset cases, so be it. Art

To: Mike Torrence who wrote (129315)	5/27/2003 10:10:01 AM
From: rkral	Respond to of 152472

Nokia's Market Share in CDMA Handsets Slips First two paragraphs from smartmoney.com Nokia Corp. (NOK), the world's largest phone maker, has lost further ground in the market for handsets that comply with the second-largest technology standard, according to market research figures published Wednesday. Anglo-U.S. research firm Strategy Analytics estimates that Nokia supplied only 7.6% of the CDMA, or code division multiple access, phones shipped in the first quarter compared with 11.3% in the same period a year ago. By contrast, Samsung Electronics Co. of South Korea increased its share of the fast-growing CDMA market to 29% from 26.6%, according to the research firm. !!!!! Maybe Nokia, through their alliance with TI on CDMA chips, can turn things around. Regards, Ron

To: Mike Torrence who wrote (129315)	5/27/2003 10:26:11 AM
From: qveauriche	Read Replies (2) \| Respond to of 152472

thestreet.com << Keitel declined to comment on the terms of Nokia's licensing agreement, but experts expect Qualcomm to receive few if any royalty payments from Nokia. >> <<http://www.wrhambrecht.com/ind/research/wireless/archive/qcom.html>> <<07.05.01 qcom: Announces 3G Licensing Agreement with Nokia On July 3, 2001, QUALCOMM announced an expansion of its licensing agreement with Nokia, which includes the following: 1) QUALCOMM will receive royalties from Nokia on 3G CDMA handsets at the same rate as Nokia’s pre-existing 2G CDMA handset license agreement, regardless of the version of CDMA (i.e., W-CDMA, cdma2000, etc.); 2) Nokia was granted a license to manufacture CDMA network infrastructure, marking Nokia’s entry into the CDMA network infrastructure market; 3) QUALCOMM gains access to Nokia’s GSM patents, which are essential for multimode GSM/CDMA chipsets. We believe this is a “milestone” event for QUALCOMM because it solidifies the company’s position to receive W-CDMA handset royalty revenues going forward. Therefore, we maintain our Buy rating, and continue to believe QCOM is a core holding for wireless investors. Full Report - PDF>> Huh?? What am I missing here?

To: Mike Torrence who wrote (129315)	5/27/2003 10:35:49 AM
From: Jim Mullens	Read Replies (2) \| Respond to of 152472

Email to Mr Moritz. Some comments regarding your article- “The Dark Side speaks on Nokia vs. QCOM. “ 1. “, but observers agree that the company can't expect to maintain its stranglehold -- Qualcomm sells close to 90% of all the world's CDMA chips -- forever.” For the past two quarters Qualcomm’s CDMA chipset market share has been over 90% as most chips sold have been for 3G CDMA2000. Qualcomm has traditionally had a mid 70% market share in CDMA chipset sales. 2. “Focusing the spotlight on a sweating Qualcomm…” And, “"It's not exactly devastating to their business model," says one New York money manager who has no Qualcomm position. "Sure, they are losing market share, but it's possible that the entire world will be using CDMA phones some day." << With the possibility that the entire world will be using CDMA phones someday and that Qualcomm’s addressable market will then expand from 100 million handsets per year to 600 million or more, do you really believe that it is Qualcomm doing the “sweating”? Perhaps Nokia and TXN are doing the “sweating” as they currently have less than 8% market share of as you say “the world's fastest-growing wireless technology. 3. “What Keitel is less eager to point out is that while Qualcomm pockets an estimated $6 to $9 of every CDMA phone purchase, it is entitled to almost none of the revenue from the chips used in Nokia phones. Keitel declined to comment on the terms of Nokia's licensing agreement, but experts expect Qualcomm to receive few if any royalty payments from Nokia.” Qualcomm’s royalty revenue on each and every CDMA phone sold averages about 5% or about $9/ phone. The Nokia phones sold without a Qualcomm chip still provide a healthy royalty of about 5% of the wholesale phones price to Qualcomm. Thus, Nokia will be paying considerable royalties to Qualcomm. Thanks for your time.