• October 26, 2007

Struggling mobile service Helio reported a third-quarter net loss of $92.3 million on revenue of $51.7 million.

A joint venture of EarthLink and South Korean wireless operator SK Telecom, Helio so far has failed to build a significant subscriber base, despite heavy marketing for the upscale mobile phone aimed at young hipsters.

During the quarter, EarthLink provided Helio with a $30 million loan to cover day-to-day operations but said that it "will not be required to participate in future funding rounds," in announcing its own third-quarter earnings Thursday. According to EarthLink, SK Telecom will potentially invest up to another $270 million in Helio.