InterDigital Inc (IDCC)

[Clarence]

OK - Time to get flamed. I think that you will be waiting longer than you may have planned.

I expect a "win" over NOK in arbitration if they don't settle for less in order to get a 3G deal (By the way, I don't think that I have seen anyone on this board - including those accused of being bashers - even mention the possibility of losing the arbitration. It is a possibility.). Either way, I don't see us going to 100. I don't even see 50. At this point I am hoping for 25. In the short run, we will get a few dollars, and no more. Why? Because I believe that Wall Street will value IDCC below where they would value a manufacturing concern with the same income stream because they are an IPR firm. IDCC is going to have to continue to fight and scratch with people over IPR as long as they are in business. The climate that allowed QCOM to explode is over. IDCC has great possibilities. A NOK 3G license would help to bring others into the fold. Successful resolution with the patent issues in Japan would help too. Recognition of narrow CDMA IPR helps some more. Nevertheless, it is always going to be a fight. The climb will be tough, and not overnight. Loop has been waiting for more than 20 years. I've been in for more than a decade. The issues of the day are ever changing (remember the European patent challenges - we were going to be rich - right through ERICY and to where we are today), but there is always one more situation to resolve before we finally get the respect that we all "know" is coming. Hmmm. Maybe the process is by its nature one of incremental steps.