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To: JMD who wrote (9474)	3/30/1998 1:33:00 PM
From: Caxton Rhodes	Read Replies (1) \| Respond to of 152472

Oh Grand Poobah, my prediction is Q's dough goes to Mex and China this year.... CDMA Looks For Cracks In China's GSM Wall By Jeremy Scott-Joynt 30-MAR-98 China is on the verge of embracing CDMAOne mobile technology, giving the second digital standard a shot at success in one of the fastest-growing markets. ÿÿÿÿÿÿ So far all of China's commercial digital networks have been GSM or sometimes D-AMPS, giving the likes of Ericsson, Nokia and Motorola a valuable toe-hold in supplying equipment to Chinese operators. Indeed, GSM has been seen as the de facto national standard of choice. ÿÿÿÿÿÿ The two existing national networks, run by dominant carrier China Telecom and its competitor, China Unicom, are both GSM. ÿÿÿÿÿÿ But QualComm, the pioneer of CDMAOne, should also now get access, and apparently with this in mind has started a joint research program with Beijing University of Posts and Telecoms, sponsoring BUPT students and professors to come to California to study CDMAOne technology. ÿÿÿÿÿÿ The BUPT is a prestigious research organization attached to the now Ministry of Information Industries. The MII came into being earlier this month from the amalgamation of the Posts and Telecoms, Electronic Industries and Radio, Film and TV Ministries, and is headed by a BUPT graduate, Wu Jichuan. ÿÿÿÿÿÿ At the moment the frequencies needed for CDMA are effectively owned by the People's Liberation Army, China's armed forces. But the PLA is a major force in Chinese industry in its own right, and next month looks set to announce its intention to start its own national network, China Telecom Great Wall, as a 50-50 joint venture with dominant operator China Telecom. ÿÿÿÿÿÿ Great Wall has been running trial CDMAOne networks for some time, the biggest being a 43,000-capacity system opened in November in the capital Beijing. But none have been run on a commercial basis.

To: JMD who wrote (9474)	3/30/1998 1:33:00 PM
From: Caxton Rhodes	Respond to of 152472

Oh Grand Poobah, my prediction is Q's dough goes to Mex and China this year.... Caxton CDMA Looks For Cracks In China's GSM Wall By Jeremy Scott-Joynt 30-MAR-98 China is on the verge of embracing CDMAOne mobile technology, giving the second digital standard a shot at success in one of the fastest-growing markets. ÿÿÿÿÿÿ So far all of China's commercial digital networks have been GSM or sometimes D-AMPS, giving the likes of Ericsson, Nokia and Motorola a valuable toe-hold in supplying equipment to Chinese operators. Indeed, GSM has been seen as the de facto national standard of choice. ÿÿÿÿÿÿ The two existing national networks, run by dominant carrier China Telecom and its competitor, China Unicom, are both GSM. ÿÿÿÿÿÿ But QualComm, the pioneer of CDMAOne, should also now get access, and apparently with this in mind has started a joint research program with Beijing University of Posts and Telecoms, sponsoring BUPT students and professors to come to California to study CDMAOne technology. ÿÿÿÿÿÿ The BUPT is a prestigious research organization attached to the now Ministry of Information Industries. The MII came into being earlier this month from the amalgamation of the Posts and Telecoms, Electronic Industries and Radio, Film and TV Ministries, and is headed by a BUPT graduate, Wu Jichuan. ÿÿÿÿÿÿ At the moment the frequencies needed for CDMA are effectively owned by the People's Liberation Army, China's armed forces. But the PLA is a major force in Chinese industry in its own right, and next month looks set to announce its intention to start its own national network, China Telecom Great Wall, as a 50-50 joint venture with dominant operator China Telecom. ÿÿÿÿÿÿ Great Wall has been running trial CDMAOne networks for some time, the biggest being a 43,000-capacity system opened in November in the capital Beijing. But none have been run on a commercial basis.

To: JMD who wrote (9474)	3/30/1998 2:13:00 PM
From: bananawind	Read Replies (2) \| Respond to of 152472

Mike, re: retaining a not insignificant ownership % if memory serves... From the press release... The partnership was formed October 1, 1997 with 60 percent interest held by Philips Electronics and 40 percent held by Lucent Technologies Looks to me like Phillips/Lucent is jumping at the chance to hammer out an agreement for Q's W-CDMA IPR interests ahead of any similar settlement by ETSI's IPR committee, maybe providing them with a cost or time to market advantage vis-a-vis other ETSI participants who wait and/or litigate over Q's rights. At a minimum the agreement is explicit proof that Q's management was not blowing smoke in their assurances that the European's proposed standard could not do an end run on Q's IPR. It is also interesting that Q appears willing to license their IPR for a standard which is not backward compatible with cdmaOne (if I've followed the technical stuff correctly?). This tells me that they are in no way intimidated by ETSI's standard and are confident in their ability to provide their own smooth migration to 3G, probably well before the Europeans. Forget the market reaction. It is not looking past the next quarter or two. -JLF

To: JMD who wrote (9474)	3/30/1998 2:19:00 PM
From: qdog	Read Replies (3) \| Respond to of 152472

Hey, you are the defacto wizard, I'm just a lowly dog trying to live down South Park's show about gay, homosexual dogs!! I believe the LU/Phillips is 50-50. Yes, just another fly in the fondue GSM pot. Yes the market is troubling in the fact that we have IPO mania and Internet mania, Part Deux. Amazon.com, amazing. Heard a rumor that Compaq may shut down production for two weeks... that will rattle tech stocks, if true. BAY rebounds to 30 on bad news... oil stocks at all time highes and oil at now 4 year lows and was at 9 year lows. Nokia and Ericsson still maintaining that Asia isn't a problem for them, but everyone else thinks it is for them??? MSFT going to release a new OS in two months that has limited benefit or improvement and still selling their old stuff at list price??? No they aren't a monoply (just had to get that one in), yet folks will go out and upgrade like lemmings over a cliff without asking why!!! PE of 54 on trailing earnings and a market cap of over $200 billion on annual sales of less than 20 billion????? Yet Ford is only at 64, PE less than 10, pays a dividend and has 3X the sales and better earnings per share than MSFT!!! Market cap is far less than shrink wrapper MSFT and has more tangible real assets. The market isn't, logical is it???? Yep, we are close to a correction...... Then there is that devastating El Su vacation affect!!!!!!! YOU HAVE BEEN WARNED!!! DANGER < DANGER WILL ROBINSON!!