Word: 3g
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...Most, that is, except Hutchison (which, for its part, spent a hefty $10 billion for all of its European licenses). The company is moving ahead with its plan to build and introduce the world's first multinational 3G network, with operations in Australia, Austria, Denmark, Hong Kong, Ireland, Israel, Italy, Sweden and the United Kingdom. It has introduced a confident new brand name, "3," along with a snazzy logo and enough empowerment-through-technology hype to make you think it's 1999. "What we are doing is without precedent," says Hutchison 3G spokesman Matt Peacock in London. "3G...
...relatively painless rollout, the hurdles left to overcome are legion, as skeptics are delighted to point out. This is the narrative almost every commentator has seized upon: Hutchison is entering a saturated market of entrenched incumbents with an untested product and no killer application. The primary benefit of 3G is, simply, speed. Data-transfer rates are about seven times those of 2G phones, and 3G is usually at least twice as fast as 2.5G. High bandwidth means 3G networks can handle more volume, all things being equal, so they are cheaper and more efficient to manage...
...additional horsepower is needed. "A must-have application could pop up at any time," says K.Y. Ng, a stock analyst at securities firm Nomura. "But there isn't one out there right now." Other than live videoconferencing calls, in fact, there's really nothing you can do on 3G phones that you can't do on 2.5G phones, and those have not exactly been runaway commercial successes. (Indeed, consulting firm Analysys estimates that only one-third of people with 2.5G phones actually use data services.) William Clark, a research director at technology consulting firm Gartner, acknowledges that videoconferencing...
...Considering what Hutchison 3G is up against, the company will be hard pressed to meet its target break-even date of 2005. According to estimates by Nomura, Hutchison 3G will have to capture a minimum of 6.4 million subscribers in the United Kingdom, or a 13% market share, just to start making a positive return on its investment by 2010. The forecast out of technology consultant Forrester Research is even grimmer, pushing Hutchison 3G's break-even date in the United Kingdom back...
...beginning of the year, but its cash hoard gives it plenty of room to maneuver. According to Nomura's estimates, Hutchison Whampoa has $14.5 billion in cash and liquid assets on hand, more than enough to cover the additional $10.2 billion the company will need to complete its multicountry 3G buildout. "Funny how people have been slagging off conglomerates for some time," says Nick Ingelbrecht, a technology analyst at Gartner, "but now the idea looks rather good, doesn...