There has never been such thing as a handset market downturn that is decoupled from wider consumer electronics component and telecom infrastructure sectors.

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Just as the PC usurped the mainframe and set off explosive change in computers, new optical technologies may someday overtake electronics and topple the established telecom order.

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"We are coming to the party late, " says Andrews, 57, of 3M's push into telecom and electronics.

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It operates more than 50 companies in electronics, home appliances, chemicals and telecom.

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Nowhere is this controversy as fierce as in data intensive industries such as Telecom, Consumer Electronics and High Tech.

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Other partners on the device include British telecom company Vodaphone and Japanese consumer electronics-maker Sharp.

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Currently, the top five companies that account for a third of stock holdings, he says, are non-Hyundai blue chips SK Telecom, power utility KEPCO, Samsung Electronics, Samsung Fire and Marine Insurance, and steel giant POSCO.

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