Third generation (3G) wireless technology allows for increased bandwidth and transfer rates, enabling multimedia capabilities like audio and video on mobile phones. 3G was first demonstrated in 2001 in Japan and launched commercially in 2003. It provides advantages like global roaming, faster internet access up to 2Mbps, and video calling. However, 3G also has disadvantages like higher costs for the network connection and specialized 3G phones. Common applications include wireless internet, audio and video streaming, and mobile commerce.