Handset delays to hit Hutchison hard

18 Nov 2003

Hutchison Whampoa’s 3G operations will not break even until late 2006 as a result of delays in the delivery of new handsets, according to the Financial Times. The delay means that as well as needing additional funding for its businesses in eight countries, the operator will fail to hit its target of a million subscribers in its key markets – the UK and Italy – by the end of the year. In the UK retail sales have fallen to a third of their peak of 15,000 units per week, thanks to the shortages.

United Kingdom