Doom, Gloom and a Rainbow
As wireless carriers and infrastructure players release their numbers it’s becoming clear that while national economies are recovering, the wireless industry will take a bit longer to bounce back. For example, last week Nokia announced slower growth for 2002 and this week Ericsson announced that it’s going to cut almost 20,000 jobs this year in an effort to boost it’s bottom line. These announcments are in reaction to the fact that carriers are focused on managing their debt and cutting back on heavy phone subsidies. This short term pain should help the wireless industry get back on track, but just how long it will take is unclear.