Specialist
Former VP at CommScope Holding Co Inc
Agenda
- Key industry trends, focusing on CommScope (NASDAQ: COMM)
- CommScope's 5G product suite and positioning
- Internet of Things and machine-to-machine automation, and sensing capabilities
- Wifi tech and demand for twisted pair copper solutions in enterprise buildings
- Continued deployment of fibre tech for home and small businesses connectivity
Questions
1.
What 2-3 key trends are you seeing across the telecom infrastructure market?
2.
Looking at the CAPEX spend on 5G, can you give us your sense on how we should expect 5G timing? When will we see the impact of CommScope to revenue lines? Where are we today vs when do we see a peak?
3.
How does the demand picture for macrocells vs metrocell sites and small cells evolve moving forward? Should we think about 5G really just being a small cell demand play? How does the macrocell picture play out?
4.
What are CommScope's competitive advantages in 5G in small cell? What’s its ability to win deals vs others in the market?
5.
Can you give us your sense on the impact the Huawei ban would have on CommScope?
6.
How will telco operators pay for the incremental CAPEX if there doesn't appear to be a pricing benefit from 5G?
7.
What is the scope of opportunity on the 5G rollout for CommScope relative to 4G?
8.
After initial build-out, how should we think about the 5G opportunity? You mentioned 2-3 years from now, we see an initial build-out, what does that look like long term? Is it a 10-year opportunity? Is the post-initial build-out just densification? How does the long-term revenue story play out?
9.
How you expect the pricing dynamics to play out, will CommScope continue to get pushed around on price?
10.
What do you think is the rationale behind the Arris deal? Does the new portfolio create value, what’s the ability to cross-sell?
11.
Looking at the connectivity solutions segment, why do you think CommScope hasn't been more successful in hyperscale data centres?
12.
Any sense on how much of CommScope’s copper, fibre, coax business is from expanding networks such as newly constructed neighbourhoods vs how much is from densification of existing networks?
13.
When we think about cable customer CAPEX, do you expect somewhat of a recovery in H2 '19? What is your view on cable customers and the revenue impact to CommScope, for fibre, copper and coax?
14.
What is your view on a potential Sprint-T-Mobile impact? If the merger goes through, what does that look like for CommScope, where I believe only T-Mobile is a customer?
15.
Why has CommScope's growth been below its long-term mid-single digit targets for the last few years?
16.
How much of CommScope's 5G products is actual electronic equipment vs protective cases and stands for non-CommScope equipment?
17.
Where has CommScope been gaining and losing share across its major product lines? Where do you expect it to continue to gain or continue to lose share as we look ahead to the next 12-18 months?
18.
Do you have any final comments on CommScope and 5G roll-out?
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