SKT's gain was KT's loss last year

SKT's gain was KT's loss last year

Dylan Bushell-Embling  |   January 29, 2014
telecomasia.net
SK Telecom has turned in a 44.3% increase in net profit for 2013, while rival KT saw its profit fall 83.6% over the same period.
 
SK Telecom reported net income for the year of 1.61 trillion won ($1.49 billion), with revenue increasing 2.9% to 16.6 trillion won.
 
The company said increased LTE revenues compensated for revenue-decreasing promotional efforts including the introduction of plans with unlimited in-network voice calls.
 
The company's LTE subscriber base grew to 13.5 million by the end of the year, representing around 50% of its total mobile customer base. Churn meanwhile decreased by 0.3 percentage points to 2.3%
 
But a major contributor to the company's profit growth was the performance of non-core subsidiaries including chipmaker SK Hynix.
 
KT's annual profit by contrast declined to 181 billion won, on 0.2% lower revenue of 23.8 trillion won. The company blamed a 6.7% decline in fixed-line revenue for the declines.
 
For the fourth quarter, KT swung to a loss of 300 billion won from a net profit of 106.6 billion won in 4Q12.
 
But the company more than doubled its LTE subscriber base to 8 million for the year, and expects growth in the segment to help the company's mobile business gain ground in 2014.
Dylan Bushell-Embling

Bigbox

TelcoStrat 288

TELCO STRATEGIES CONFERENCE
May 7-8, Jakarta
Join telco CxOs from around Asia to discuss:
• Changing the way telcos operate
• New service offerings
• Restructuring for innovation
See the conference agenda >>

Ericsson has been in Asia for more than 100 years and will continue to drive technology and services leadership in order to bring the best mobile experiences to end users

SignUpTAenews

Frontpage Content by Category with Image

Activists petition for the withdrawal of the Newborn-to-Toddler Apptivity Seat

 

Telecomasia.net full website

© 2012 Questex Asia Ltd., a Questex Media Group company. All rights reserved. Reproduction in whole or in part is prohibited. Please send any technical comments or questions to our webmaster.