Vibo Telecom Inc (威寶電信), a latecomer in the domestic telecommunications market, aims to garner at least 100,000 subscribers within the first three months after unveiling its third-generation (3G) service in the quarter ending December.
"We plan to launch our service in the fourth quarter as scheduled," Vibo chairman Rock Hsu (許勝雄) said yesterday after the company's annual shareholder meeting.
Vibo expects this number to skyrocket to 1 million next year, and that this would make up 20 percent of a projected total of 5 million 3G users nationwide, Hsu said.
He nonetheless admitted that it would not be easy for the 3G operator to break even in light of its huge investment.
"It will take Vibo two years at least [to break even]," he said.
Vibo's forecast seems ambitious when compared with market researcher International Corp's (IDC) projection. IDC expects the nation to have less than 4 million 3G subscribers by the end of 2009.
Taiwan's major telecoms players, including industry leader Chunghwa Telecom Co (
Vibo shareholders yesterday agreed to a recapitalization proposal to boost the firm's capital to NT$22 billion (US$701.7 million), from the current NT$10 billion, by the end of this year to fund its operations.
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