Wireless Sector Sends a Staticky Signal

This was supposed to be the year of convergence for mobile phones, when high-speed wireless telephone networks powered new generations of data-friendly handsets. Instead, it's turned into hunting season on wireless stocks.

It seemed a reasonable concept: After a dismal 2001, consumers would finally go out and buy handsets as Nokia (NOK Quote), Motorola (MOT Quote)and Ericsson(ERICY Quote) revamped their lines and pushed next-generation data-capable mobile phones.

Nine days into the new year, however, that theory was debunked by high-profile Wall Street skepticism about current projections for mobile-phone sales and capital spending budgets, and indications that the holiday season was a poor one for carriers. Barring an unlikely second-half rebound, 2002 could turn out results similar to glum 2001. ...