Research (Investicniweb.cz)
World markets  |  January 14, 2013 07:13:17

Tibor Bokor: Facebook and I believe the point of purchase and Apple



Google and Groupon, America and Africa. Technology to strengthen despite last year's still a lot to offer, but the investor has to choose the right card, you bet, says Tibor Bokor, a telecommunications company, and everything related to them, analyzed for major banks in Prague, Moscow and London. Himself elected by the software manufacturer, and geographic diversification.

It is said that the developing countries can skip certain stages of development, and to get a jump ahead of developed markets. Kenya would need to be first so-called post-PC countries. What do you think?

Tibor Bokor (TB): The so-calledleapfrogging, thus skipping certain generations, chapters or technological development, it is really possible in emerging markets to watch. Mentioned in Africa, where there is no fixed infrastructure, fixed-line internet is not a common thing, for example, now skips a personal computer, because the Internet is heading directly into the phone. But I believe that eventually in Africa will need to build a fixed infrastructure. So, while it currently looks like leapfrogging, but Africa will have to make an imaginary step back. This means that the personal computer and the tablet will eventually be interested in Africa.

How much is actually interesting to bet on the rapid development of new technologies in emerging markets?

TB: People in the poorest countries now buying cell phones. But if we are talking about smartphones or tablets, is a critical level of GDP per capita. Where GDP is low, these technologies develop very slowly. Thus, for example in Russia or in Turkey is only 15% market penetration in terms of smart phones, the tablet is even less. These latest technologies are reserved for the wealthiest layer of the population. Demand for the product is huge everywhere, to be sure, but the cost in such cases is limiting.

How are so interesting for investors, hardware manufacturers, who are the emerging markets focused increasingly? Maybe Research In Motion, the BlackBerry maker, for example, tested in Nigeria and other African countries.

TB: Hardware manufacturers are currently experiencing a lot of hard times. Emerging markets have been growing much more important to them but America and Europe, where their margins under significant pressure. Only two manufacturers of mobile phones are in net income, Samsung and Apple, others are in deep losses, maybe Nokia, Research In Motion and others. I believe it will not be able to change, even if the rise in emerging markets. From the perspective of investors are so much speculative bet, like BlackBerry maker shares last year fell dramatically. For Research In Motion, this is not a business model, but the patents that the company has. The most you can earn, so it is rather on mergers and acquisitions.

And what hardware manufacturers from China, India and other emerging countries, who produce and sell much cheaper? They Huawei and other interesting investment according to you?

TB: The added value is in the software. I do not like because no Chinese technology company. When the recession, or need another reason to lower prices, suffering the most hardware vendors. Operator is the whole matter which manufacturer orders a given technology, reaches for it, which will offer interesting price. Competition is indeed sharp. A good example is Intel, which released at the end of thirty years Director. Why? After all, Intel supplies chips to computers around the world. But despite the difficulties, despite the firm's growth a big problem. Fails to enforce because, among other things in the mobile segment.

What specific titles like Tibor Bokorovy to buy, can be found on the web Investment

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