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The chairman of Hutchison Whampoa Li Ka-shing believes the Hong Kong conglomerate will have commercial 3G operational in 10 countries by early next year. "One year from today, we will have 3G operations launched in 10 countries around the world," said the billionaire. He reinforced the company's position and commitment to the costly 3G rollout. "In 2003, the group will focus . . . on overseas and building its start-up 3G business in Europe, Hong Kong and Australia," said Li. In his speech, he estimated Hutchison would save £3.5billion on its originally projected spending on the firm's 3G budget through to 2005 with much of it coming from lower equipment cost as a result of the telecom slowdown. The company yesterday said it had enlisted 60,000 3G subscribers so far with 50,000 in Italy and 10,000 in the UK. It is now launching services in both countries following months of delays and handsets are gradually being delivered to pre-ordered customers. The group said, "early customer responses have been encouraging". Some other brief points from the Hutchison Whampoa audited final result: - The construction of the 3G network is on schedule in Hong Kong and services are targeted to commence in June this year. In October, the Group sold an effective 3.73% equity interest in the Hong Kong 2G and 3G operations to NEC Corp, reducing the Group's interests to 70.9%. - Australia is scheduled to commence 3G operations in the first half of this year.
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