Qualcomm Inc (QCOM)

[khemara_qc]

Hutchison unveils 3G growth
Date: 21 May 2004

Hutchison Whampoa has signed up 1.73m 3G users, ahead of market forecasts for the company, but its UK arm still looks well short of its original subscriber ambitions.

The Hong Kong-based telco said at its AGM yesterday that it had seen subscriber growth across all seven markets of 700,000 in the past two months. A break down of UK figures was not available, but a company spokesperson said the UK market accounted for approximately a third of its 3G operations, suggesting a subscriber base in the region of 600,000, a long way short of the one million customers by the end of 2003, set by 3 when it launched in the UK last Spring.

However, Hutchison said its overall 3G operations - it also has services in Hong Kong, Italy, Sweden, Denmark, Austria and Australia - were on track to break even on an EBITDA basis in 2005, while its UK average revenue per user (ARPU) was £44 per month. Significantly, it added that it did not need to raise more 3G funds,

The group said the figures were helped by aggressive promotions and an increase in available handset models. "3G's difficult period is over," Managing director Canning Fok told reporters at the AGM.

May 18 2004: Second movers have advantage, says 3G report

April 19 2004: 3 backs 'do or die' push with first Nokia handset

www.hutchison-whampoa.com


http://www.e-consultancy.com/newsfeatures/155864/hutchison-unveils-3g-growth.html