Hyundai to Export 330 Million Dollars Worth of Cellular Phones

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Hyundai to Export 330 Million Dollars Worth of Cellular Phones

Hyundai Electronics announced on November 4 that it will export 1.5 million cellular phones valued at 330 million dollars to the U.S. and other South and Central American countries. Hyundai has already agreed to export 1.1 million phones to the U.S. by the end of 1999.
Hyundai also contracted with buyers in South and Central America to export 400,000 phones. A source at Hyundai said, 'Cellular phones are expected to be a new strategic export product. It also can stimulate our decreasing exports in this recession season.'
The market scale of cellular phones (Code Division Multiple Access system only) in the U.S. is forecasted to be six million units and eight million units in 1999 and in 2000, respectively. That in other American countries is predicted to reach three million and four million in 1999 and in 2000, respectively.

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