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To: JMD who wrote (6539)	12/16/1997 10:29:00 AM
From: dougjn	Read Replies (1) \| Respond to of 152472

With the shield laws re: forward looking statements, one doesn't have to be right to avoid loosing a lawsuit, only good faith, based on reasonable diligence. The problem comes with duties to update. If a co. establishes a pattern of warning as soon as any signif. change seems likely (but in advance of having the hard numbers), it is difficult to then fail to warn in advance of earnings if things again significantly change. I suppose a public announcement of a change of warning policy could work. Anyway, these are reasons why Cos. typically establish consistent policies of market comment, and try to avoid micro guidance. They use analysts to get micro guidance out the back door, esp. "favored" analysts. (Which creates its own dynamic.) To be in a position to "break" shadings changes on a stock, one has to be in favor with/favorable to a company. But the shadings may often be a bit of a warning, downward english. Which the analyst wants to communicate to the clients who grade him (Inst. Investor subscribers), but subtly. Etc. Doug

To: JMD who wrote (6539)	12/16/1997 12:05:00 PM
From: Dovi	Read Replies (3) \| Respond to of 152472

Am surprised that I have not seen anything on this thread about SK Telecom's announcement yesterday. It announced that 340,000 phones were sold in November which was a 40% increase over October. Clearly the CDMA phones are flying off the shelf. Phones (although it is arguable) are more in the "necessity" category. IMO the strong sales should continue despite the downturn.

To: JMD who wrote (6539)	12/16/1997 12:05:00 PM
From: JMD	Respond to of 152472

Here is some interesting news that seems pretty bullish to me. Looks like Hong Kong is dual system but CDMA is catching up rapidly. Read particularly final paragraph; HONG KONG -(Dow Jones)- The telecommunications unit of Hutchison Whampoa Ltd. said Tuesday it will invest five billion Hong Kong dollars (US$645 million) to upgrade its three mobile-phone networks. Hutchison's (HUWHY) Hutchison Telecommunications (Hong Kong) Ltd. unit said it will spend HK$2.0 billion to enhance its global system for mobile communications, or GSM, network and to increase the number of cell stations to 1,000 from 600 next year so that it will be able to take on 600,000 subscribers. Another HK$1.5 billion will be invested into Hutchison's code division multiple access, or CDMA, network. Cellular-station numbers will rise to 500 from 320 by the end of next year. Hutchison said it has begun negotiations for roaming agreements with companies in Singapore and Japan in anticipation of strong growth in CDMA systems around the world. CDMA is a digital wireless communications platform promoted globally by Motorola Inc. (MOT). Roaming services in several cities in China are expected in the near future as well. Hutchison said it will also invest HK$1.5 billion in its pesonal communications system, or PCS, network to allow it to grow to 800,000 subscribers. The telecom company said it is using Motorola technology in all three of its networks and is working closely with Motorola to integrate its GSM and PCS networks. Copyright (c) 1997 Dow Jones & Company, Inc. All Rights Reserved. Transmitted: 12/16/97 11:41 (L100ZZ2L)