03 July 2007

Helio To Get $100 Million Each Extra From SK and Earthlink

Accordingto moconews both Earthlink and SK Telecom have agreed to invest up to $100 million each into Helio. Reuters: The timing and the exact amount of the investment have not been set. Helio expects to post a net loss of $330 million-$360 million in 2007, compared with a $192 million shortfall in 2006. Analysts said Helio’s business was improving thanks to a stronger mobile phone lineup and growing customer base, but the speed of growth was not strong enough to convince investors. SK expects Helio to become profitable in 2009.


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