It's not that people are not buying cell phones.
If it weren't for Nokia, I would have thought about calling in sick. There was nobody in the city yesterday morning. When you did see people, it looked like they were going to a funeral.
All Nokia cared about earlier in 2003 was volume and market share, ... The company finally has taken a step back and focused more on prices.
This shows they have other wireless customers in their lineup that could help them. Wireless had some bumps but it was still a good quarter and you had other products picking up the pace.
I hope Nokia can stabilize its selling prices. That's the hardest point because if volume does slow down and they're still at these levels, Nokia could be in trouble.
It's a tough market right now. Even if you do good things, investors are skittish.
Motorola's results did not just surpass our estimates, consensus, and management guidance, these 1Q 04 numbers were downright huge. Honestly, we are scratching our heads about such a big beat.
Other companies have been able to fight pricing pressure, which is good. If all the companies started cutting prices, you don't want to go down that road.
Telecom infrastructure got beat up so much after 2000 and now going forward, there's some stabilization and near-term demand. It shows you there are cycles.
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