Losses almost double for 3, a mobile phone company

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Sunday, April 3, 2005

3, the 3G mobile phone firm owned by Hong Kong based Hutchison Whampoa has reported pre-tax, pre-exceptional losses of HK$37.5bn (US$4.8bn/€3.7bn) for 2004. This compares with losses of HK$19.6bn (US$2.5/€1.94bn) in 2003 when the company was only in operation for seven months.

Despite the losses, Hutchison Whampoa chairman Li Ka-Shing said "3 achieved substantial business momentum in 2004". The firm now has over eight million customers worldwide, with three million of these in the UK.

3 was the first 3G provider in the UK, ahead of incumbent Vodafone by launching in 2003. Vodafone currently has about 200,000 customers for its 3G service in Britain.

Sources