Word: telecoms
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...South Korea, home of some of the most advanced and popular wireless data services, has already caught on. In February, Korea Telecom (KT), the nation's largest telecommunications company, started selling Wi-Fi access in addition to its regular cell-phone service. The company has installed 1,000 access points in major cities and plans to put in thousands more. Competitor Hanaro Telecom has installed another 450 access points in places such as Burger King restaurants. "Koreans are used to high speed Internet in their homes and offices," says Hahn Won Sic, managing director of the fixed-mobile convergence business...
...themselves. According to Linksys spokeswoman Karen Sohl, in the last three months of 2001, sales revenue increased by $12 million through the company's partnerships not only with AT&T (which has 1.4 million high-speed subscribers) but also with three other broadband providers, Adelphia Cable, Verizon and British Telecom...
...demand has come mostly from manufacturers of PCs, next-generation cell phones and consumer electronics, including ever more sophisticated game consoles such as Xbox and GameCube. But telecom companies have stepped up their pace too. "Later in the year, we could see a real surprise," says analyst Chris Chaney at A.G. EDWARDS. "Someone like Intel could come in with a big order for new equipment." Chaney favors the equipment makers, which he views as better values than the chipmakers. The equipment companies' shares also tend to be earlier movers, because chipmakers must buy more equipment before they can produce more...
...1990s took the decade's "growth is good" mantra to heart and morphed into conglomerates. Some reached beyond their own sectors for opportunities, expecting to apply their management skills to marginally related businesses. That's how energy company Scottish Power ended up owning a water company, a telecom and 160 electronics shops, as well as hawking financial-services. But the expected "synergies" of such diverse companies never fully developed, and Scottish Power's earnings - as well as its share price - hit a brownout. So the Glasgow utility is selling Southern Water and spinning off Thus, its unprofitable telecom...
...years. Nestlé insists that it has no plans to sever all ties to Alcon, though analysts still expect the food giant to untether the eye-care group eventually. As for Deutsche Telekom, it won't be Europe's first long-distance operator to unload a wireless unit. British Telecom last year spun off mm02, and France Telcom floated a piece of its Orange mobile unit. In addition, the T-Mobile carve-out will help Deutsche Telekom put a small dent in its $54.4 billion debt. Deutsche Telekom also wants to sell its cable assets; regulators rejected a $4.8 billion...