Originally Posted by TheBigM:
“At the time everyone thought 3G was going to be the next big thing.
Hutchison whampoa hadn't expected to be making the billions of losses it has on the 3 networks across the world. I think Three UK is still net loss as an investment?
This is the same company that has made noises for a very long time about wanting to sell out of Three etc.”
Hutchison is a fortune 500 company who have invested in telecoms for a long time, what is now Whampoa used to be Hutchison Telecommunications International, former owners of Orange when they invested in 2G technology and when they had the good future is bright branding.
They operate and own ports, hotels, retail you may recognise their UK brands like The perfume shop and Superdrug. They are an energy supply company in many countries including in the US and operate telecoms in 11 countries.
They brought us 2G under the Orange brand, 3G under the Three brand and who knows whether they will bring us 4G under a new brand or existing brand.
They may still be in a net loss overall, but that is always irrelevant as the business is worth billions today, meaning the company is worth a lot of money if it were sold, it's also making profit now and growing customers at a faster rate than almost anybody else in the UK mobile market.
It's a disruptive business i.e it deliberate ruffles the feathers of the likes of O2 and Vodafone, shakes up the industry and forces them to keep their eyes on the ball.
I think they only once said they had plans to exit the UK which was primarily to try and influence Ofcom over some forthcoming decisions at the time. Aside from that most of the rumours about selling out to Vodafone have been generated by the press only due to the similar deal in Aus and with the Hutch network India.
I think for a network to only have been going for 8 years it's doing pretty well, especially when you look at the advantage O2 and Vodafone have had being in the UK for 20+ years.