COMPANY             STRENGTH            THREAT

NOKIA               World leader        Chipmakers, following
                    in handsets         Intel's personal-computer
                                        strategy, could turn cell
                                        phones into commodities

VODAFONE            Biggest             Savvy Internet companies,
                    international       such as Yahoo!, could nab
                    mobile-phone        Vodafone's Net business,
                    company             turning the mobile star into
                                        a mere wireless pipeline

AOL                 Internet            Must race to catch up fast
                    titan               on wireless, or risk losing
                                        out on the next stage of
                                        the Net

DATA: BUSINESS WEEK