Investment cuts SK Telecom's Q3 net profit

Oct 27, 2011

South Korea's top mobile carrier SK Telecom said Thursday its third-quarter net profit fell 18 percent year-on-year due to heavy investment in new wireless networks.

Net profit in July-September dropped to 383.9 billion won ($339 million) from 470.7 billion won a year earlier, the company said in a statement.

Operating profit dropped 17 percent to 531.4 billion won from 642 billion won as it invested more to cater for growing data traffic caused by smartphone users.

Sales inched up two percent to 4 trillion won.

SK Telecom said the number of its smartphone users has more than doubled over the past year to 9.7 million due to the popularity of Apple's iPhone and the Galaxy S series by Samsung Electronics.

in July launched its super-fast 4G wireless service, based on Long-Term Evolution (LTE) technology, to meet growing demand from users of smartphones and tablet computers.

It said LTE would allow users to download large video content nearly twice as fast as with existing WiBro technology.

Explore further: Sony's PlayStation back online after Christmas hack

add to favorites email to friend print save as pdf

Related Stories

S. Korea's SK to launch seven 4G smartphones

Sep 28, 2011

South Korea's top mobile carrier SK Telecom said Wednesday it would this year offer seven smartphone models and one tablet device running on ultra high-speed network technology.

SK Telecom to invest $2.1 bn to expand network

May 03, 2011

South Korea's largest mobile operator SK Telecom said Tuesday it would invest a record 2.3 trillion won ($2.1 billion) this year to expand its network and meet the growing data needs of smartphone users.

SKorea's SK Telecom profit rises 4.6 percent

Jul 28, 2009

South Korea's top mobile carrier SK Telecom said Tuesday net profit rose 4.6 percent year-on-year for the second quarter due to an increase in wireless Internet revenue and new subscribers.

Recommended for you

Sony's PlayStation 'gradually coming back'

Dec 27, 2014

Sony was still struggling Saturday to fully restore its online PlayStation system, three days after the Christmas day hack that also hit Microsoft's Xbox, reporting that services were "gradually coming back."

Uber broke Indian financial rules: central bank chief

Dec 27, 2014

India's central bank chief lashed out at Uber, already under fire over the alleged rape of a passenger, saying the US taxi-hailing firm violated the country's financial regulations by using an overseas payment ...

Taxi app Uber defies ban in Spain

Dec 26, 2014

Smartphone car-ride service Uber vowed Friday to keep operating in Spain despite a ban following a lawsuit by taxi drivers and said it would fight the case in court.

User comments : 0

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.