TT&T has abandoned its 50 billion baht ($1.41 billion) 3G investment plan, and no longer intends to diversify into 3G mobile services.
The beleaguered company has already entered into a business rehabilitation plan to fend off bankruptcy, having racked up around $567,000 in debt.
Now, parent company Jasmine International has dropped its 3G investment plan due to concerns over the profitability of the technology for the provincial provider, according to the Bangkok Post.
Jasmine CEO Pete Bodharamik told the Post he has decided diversification isn't the right move considering current corporate and economic circumstances. He said the company was not in a position to compete with AIS and DTAC, Thailand's two largest mobile operators.
But he said he may reconsider if the company's broadband subscriber base reaches 2 million, which still means Jasmine may not be investing in 3G for some time - broadband internet arm Triple T Broadband is expected to have around 400,000 subscribers by the end of 2008.