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Technology Stocks : Nortel Networks (NT) -- Ignore unavailable to you. Want to Upgrade?

To: Cooters who wrote (13916)	6/17/2004 11:35:07 AM
From: - with a K	Respond to of 14638

This is from yesterday: OTTAWA, June 16 (Reuters) - Nortel Networks Corp. (Toronto:NT.TO - News) wants to forge more technology partnerships with other companies so it can expand sales for its telecoms equipment, chief executive William Owens told Reuters on Wednesday. Nortel, a former market darling that's now wrestling with a much publicized accounting mess, has already held meetings to discuss such alliances, Owens said. "During my time at Nortel you'll see a lot more emphasis on partners," Owens said in an interview. "It's not enough to have the right box or the right kind of software, you must be able to provide the solution in its entirety, and so that means much more interface with partners." He cited video over Internet protocol and network security as two areas of interest. Nortel, which has turned its attention to cost-cutting and expanding its cash reserves, is carefully reviewing its research and development commitments, Owens added. Owens told a telecom summit in Toronto that the company would focus on cash and costs, but reassured that Nortel would continue to invest in research and development. Some analysts are concerned about cuts to research and development after the company said in a June 2 conference call that it might reduce spending and focus efforts on the "right products". Wireless technology will continue to "be a very important focus", Owens said, while spending on fixed wireline technology, such as DSL, will be increased. "I'm finding that fewer and fewer of our competitors have that diversity in the marketplace," he added. "A lot of that has come from our R&D and I would intend to continue to keep that diversity." New technology could also come through acquisitions. "Would we see ourselves as a consolidator? You betcha," Owens said. "You look across all of the many opportunities and one is not necessarily just drawn to the opportunities in our immediate competitive group -- this is a changing marketplace." Owens told reporters in Toronto his company was looking around the world. "We have to be flexible and ready when the time is right to be the consolidator," he said.