Mobile communications are fundamental to business operations, individual lifestyles and the welfare of the European economy. The proposed work aims to investigate some among the current technical, business, financial, and regulatory visions associated with the effective evolution of third generation (3G) networks and services, in particular to fulfil the great market realities, the expectations and 3G’s significant potential in building the EU Information Society. The work depicts data related to the current state of play for 3G communications in Europe, with specific emphasis given to the underlying technologies and probable standardization options (both for network and terminal equipment). Wireless mobile technologies are a major driver to realize the way forward to a knowledge-based economy, in terms of consumer demand, productivity, competitiveness and job creation. Under suitable terms, this may create enormous potential and significant investment incentives, for the full recovery of the wider ICT sector. 3G is likely to play a key role in providing widespread access to the Internet and to interactive services, thus maximizing consumer choices and providing flexibility for the market itself. Furthermore, we evaluate the related EU regulatory perspectives, to support innovation, competition, legal certainty and proportionality, the consolidation of the Single Market and the removal of technical barriers to international trade.