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Saturday, July 24, 2004Ericcson, once almost written off is rebounding and is expected to get stronger, while the once revered Nokia is losing significant ground.Just a week after Nokia reported a five-percent drop in sales and a weak forecast, sending tech stocks skidding and prompting economists to worry that the mobile phone giant played too dominant a role in the Finnish economy, Ericsson announced a forecast-busting second quarter, pulling stocks back up and giving rise to optimism about more jobs and a stronger Swedish economy. While the neighboring goliaths largely pursue different parts of the mobile market, with Nokia concentrating on phones and Ericsson focusing on networks, there is more to their contrasting fortunes than differing external factors.Analysts credit Ericsson, which only recently exited 10 consecutive quarters in the red, with having taken advantage of a market upswing to turn a sour situation into a booming success. At the same time they chide Nokia for letting huge opportunities lay fallow.
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