InterDigital Inc (IDCC)

[mschere]

My $1 Billion number is predicated on a 3G rate from those OEM's that sell a 3G enabled handset or Infrastucture to be licensed by IDCC. Your $150M-$200M is IMO: Far too conservative as I fully expect NEC, Sharp, and Matsushita to pay IDCC a minimum of $100 Million in 2003 for their 3G sales..and Nokia , Samsung , Ericsson , Ericsson/Sony to pay recurring 2G revenue of some $150 Million.That is how I came to my $3 per share earnings for 2003 with 60 Million fully diluted..(I may have to scrape up another $10 Million in earnings for the balance of 2003)



100% penetration or $1B a year in royalties is a stretch, but recurring royalties of $150M-$200M in 2003 would be very good start for IDCC. It increases the credibility of their claims that they can generate x amount from 2G and at least 2x amount from 3G.