InterDigital Inc (IDCC)

[mschere]

Question..What did your survey of American stores and wireless Operators..have to do with Sharp Vodafone sales and NEC 3G sales in Japan and ASIA/Europe for the First Quarter 2004? TIA

Now, I combine the above remarks about the LACK of inventory sell-in with what I see locally, which is that I, like many others on this board, bought a new cell phone in the 4Q, but who here has mentioned buying a new phone since then?

Also, I have noticed that the carriers have greatly cut advertising all the way to zero until just recently I have seen a couple of TV ads from Verizon (Trump). I have not noticed the cell phone push ads from Best Buy, Circuit City, Cingular, etc, etc. like I saw in the 4Q. This means that nobody, except Verizon very recently, is actually pushing phones. Do you remember the advertising, rebates, and pushes to sell phones in the 4Q? Well, that push seems to have dried up in 1Q04, from what I can see locally.

Add in ANOTHER significant sequential quarter cost increase and all together, unless the NEC revenue catchup and some other one-time revenues can offset the cost increase and seasonal revenue shortfall, it looks like the 1Q could be ugly from an earnings perspective, however, cash flow looks to be strong due to advance payments.