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Technology Stocks : George Gilder - Forbes ASAP -- Ignore unavailable to you. Want to Upgrade?

To: D.J.Smyth who wrote (1286)	4/20/1999 9:03:00 PM
From: George Gilder	Read Replies (1) \| Respond to of 5853

As I said, they are a fringe player hustling patents, most of which they bought or inherited, to technology laggards who failed to board the Qualcomm-Ericcson [!] express toward Third Generation CDMA.

To: D.J.Smyth who wrote (1286)	4/20/1999 9:56:00 PM
From: Clarksterh	Read Replies (1) \| Respond to of 5853

Darrell - So that's why Nokia signed that $70 million deal. If TDMA is fringe, IDC is a fringe player. AT&T still plans to use TDMA for its WLL project (project Angel) and is also a licensee of IDC. Lets assume for the nonce that the $70M is royalties for all the past TDMA technology Nokia has sold and for the TDMA technology which it is planning on selling over the next 2 years. In that time it is certain that Nokia has sold many many more than 10 times the number of TDMA phones the number of CDMAOne phones sold in the last quarter. And yet the royalties that Qualcomm collects in one quarter ($77M) is about the same as for all of the TDMA phones Nokia has sold in the past and will sell for the next 2 years or so. This implies a royalty rate at least 1/10th the rate of Qualcomm's (and probably substantially smaller). Maybe the CDMA rate will be much better, but I wouldn't be counting on much from the TDMA royalty stream. JMO. Clark