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Technology Stocks : Ericsson overlook? -- Ignore unavailable to you. Want to Upgrade?

To: Diogeron who wrote (1097)	12/6/1997 1:37:00 AM
From: Jim Lurgio	Respond to of 5390

Here is one of the stories. The other one is redundant and repeats the ERICY lay offs. To be honest I can't remember what the third one was about so it probably wasn't that important. This story in general shows what can happen to the best companies which include ERICY and Siemens when a country has currency problems. Next time I will just take up the room and post the article. Crisis Hits Indonesian Mobile Sales By Dan Murphy at Bloomberg News 04-DEC-97 Mobile phones sales in Indonesian have fallen by as much as 40 percent since the August devaluation of the rupiah, the Jakarta Post newspaper reported, citing officials from cellular phone makers Ericsson AB of Sweden and Siemens AG of Germany. There are about 1.1 million cellular phone users in Indonesia, up from about 465,000 at the same time last year, the paper said. The paper quoted an Ericsson official as saying the market has fallen between 30 and 40 percent, while a Siemens official said the company will probably sell 30,000 phones this year, down from an initial projection of 100,000, because of the rupiah's decline. Indonesia has two national cellular phone service providers, PT Satelindo and PT Telkomsel, which are partly owned by state phone companies PT Indosat and PT Telkom and private investors such as PT Jakarta International Hotels and PT Bimantara Citra.