3 cuts losses by 45%

James Middleton

March 22, 2007

1 Min Read
3 cuts losses by 45%

Hutchison Whampoa’s 3G operation, the 3 group, narrowed its losses by 45 per cent last year, according to figures released Thursday.

Chairman of the Hong Kong company, Li Ka-shing, said that the group’s loss for 2006 dropped to HK$20bn (Eur1.9bn) from HK$36bn in 2005. 3’s revenue for the year grew 35 per cent to HK$50.6bn.

The company’s 3G customer base currently totals over 14.7 million worldwide and Ka-shing maintains that 3 will continue to narrow its losses this year in line to meet its target of breaking even in 2008

About the Author(s)

James Middleton

James Middleton is managing editor of telecoms.com | Follow him @telecomsjames

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