Printed from http://www.electronista.com

Helio loses $326 million in spite of revenue

updated 02:50 pm EST, Fri February 29, 2008

Helio loses $326 million

MVNO carrier Helio has posted a net loss of $326 million for 2007, an official announcement reveals. Although the carrier's revenue grew to $171 million last year from $46 million in 2006, the company has also been facing mounting costs, such as an advertising budget that rose from $21.6 to $47.5 million. Recent losses are notably out of proportion to those from 2006, which were only $192 million.

This creates significant danger for Helio, as the company is no longer being funded by EarthLink due to issues such as its failed municipal Wi-Fi effort. Helio is not yet at risk of folding however, as it has raised $600 million in funding, and according to company representatives it still has $45 million in "cash, cash equivalents, and marketable securities." Its sole parent company is now Korea's SK Telecom. [via RCR Wireless News]



By Electronista Staff
Post tools:

TAGS :

toggle

Comments

  1. Eldernorm

    Fresh-Faced Recruit

    Joined: Sep 2007

    0

    Maybe Helos is setting

    Maybe the sun is not rising at Helos but rather setting. ?????

Login Here

Not a member of the MacNN forums? Register now for free.

toggle

Network Headlines

toggle

Most Popular

Sponsor

Recent Reviews

Patriot Supersonic Rage XT 128GB USB drive

USB thumb drives are getting larger by the day, their growth speeding along with the availability and expansion of memory chips. But h ...

Crucial MX100 256GB SATA-3 SSD

While the price-per-gigabyte ratio for magnetic platter-based hard drives can't be beat, the speed that a SSD brings to the table for ...

Narrative Clip

With the advent of social media technology, people have been searching for new ways to share the events of their daily lives -- be it ...

Sponsor

toggle

Most Commented

 
toggle

Popular News