HONG KONG-Hutchison Whampoa Ltd., the conglomerate that operates several third-generation subsidiaries around the world along with real estate, retail, manufacturing and other businesses, reported a 2-percent increase in its first-half profit to $778 million. However, its 3G division lost $500 million before interest and taxes in the period.
Hutchison said it had 155,000 3G subscribers in the United Kingdom, 300,000 in Italy and 50,000 in Australia. Its 3G business generated $31.4 million. The operator said it still plans to reach 1 million customers in both the United Kingdom and Italy by year-end.
The company has soft launched 3G services in Sweden and Austria in anticipation of a fall and Christmas promotion campaign. Hutchison plans to launch 3G service in Hong Kong this fall and in Denmark in the fourth quarter.
The 3G losses were in line with analysts’ expectations. The company has invested heavily in its 3G rollouts around the globe.
