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SK Telecom Q3 Net Profit Almost Triples on LTE boost

SK TEecom SK TEecom
Infonetics
 
SK Telecom, which has over 12.27 million LTE subscribers, making up more than 45 percent of its total mobile subscriber base as of end-September 2013, recorded a strong growth in its third-quarter net profit.  The net profit nearly tripled owing to robust earnings of SK Hynixone, its world's number two memory chipmaking affiliate, which became part of the SK group last year. The firm said its consolidated Q3 net income climbed 186% year-on-year to 502 billion won ($472.4 million) and the average revenue per user (ARPU) went up 6.2% year over year to 42,780 won ($38.5). SK is projecting a strong growth in the segment, expecting the LTE subscriptions to reach 15 million this year via its business partnership with SK Broadband and SK Planet . 
 

SK Telecom Chief Financial Officer Hwang Soo-cheol said, “SK Telecom was able to achieve meaningful outcome in the third quarter through multifaceted efforts to provide customers with innovative products and services that promise greater value and convenience, thereby transforming the overall market paradigm. Going forward, armed with strong network competitiveness and specialized services, SK Telecom will lead the migration toward an era where data communication becomes the mainstream, while promoting a health competition in the marketplace to attain sustainable growth and maximize shareholder value.” Source - SK Telecom (October 9, 2013) 

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Ray is a news editor at The Fast Mode, bringing with him more than 10 years of experience in the wireless industry.

For tips and feedback, email Ray at ray.sharma(at)thefastmode.com, or reach him on LinkedIn @raysharma10, Facebook @1RaySharma

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