Hutchison to launch 3G services in UK in Q4; soft launch in summer
afxpress.com
HONG KONG (AFX-ASIA) - Hutchison Whampoa
Ltd said it is working towards launching its third generation mobile services in the
UK by the fourth quarter, with plans for a soft launch in the summer, South
China Morning Post reported, quoting group managing director Canning Fok.
The 3G service will then be launched in Italy and
Hong Kong, also later this year.
Fok said Hutchison will unveil a brand for its global
3G service this year.
Handsets, infrastructure, system integration and
content applications are under trial.
"Our 3G business is at the executive phase," he said.
The Italian 3G operations will be launched one month
after the launch in the UK.
Fok said financing for Hutchison's 3G operations will
be completed in the first half of the year.
"We have made the right move to cash in 2G and
re-invest in 3G. We have stuck to this strategy," he said.
"Sentiment (towards 3G) may fluctuate but we can't
shift our strategy whenever market sentiment changes. This is a
long-term business in which we have looked beyond 10 years."
Hutchison has about 4,000 staff working on its 3G
business, with more than half in the UK, and 1,000 in Italy.
Hutchison should be able to generate revenue from
3G but Fok cautioned about being too optimistic.
"Realistically, all start-up businesses have to go
through a process, but time will tell, and let's look at how we play it using our
skills," he said.
"We don't want to give our shareholders false
expectations .... so we have tended to be conservative in giving out
forward-looking statements -- we want to give pleasant surprises, not disappointment to
shareholders," Fok said.
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