SK Telecom announces 15.2% Q1 net income increase
03 May 2013 | Mitch Sayers
South Korean operator SK Telecom has announced its 2013 Q1 net income increased by 15.2% year-on-year to $331.8 million.
SK Telecom’s revenue climbed 3.6% year-on-year which the company attributes to strong subscribership on its 4G LTE network.
The operator expects to see “tangible results” across its solutions, media and healthcare units in the coming business quarters. Its solution business saw a 70% increase in sales while its IPTV service added 600,000 subscribers in Q1.
SK Telecom chief financial officer Hwang Soo-cheol said the company will maintain its position in the market by “offering innovative data services” and promoting “service-orientated competition”.
The company’s revenue did, however, decline 2% quarter-on-quarter, with the company citing shorter business days and regulator KCC suspending its ability to add new subscribers in February this year.
The 22 day suspension for SK Telecom, between January 31 and February 21, was part of an investigation into the operator allegedly offering excessive handset subsidies beyond limits set by KCC.
Domestic rivals KT and LG UPlus also received bans for the offence.
In April, the South Korean operator announced it had nearly reached 10 million users on its 4G LTE network and projects it will reach 15 million on the platform by the end of 2013.
SK Telecom has also partnered with Globe Telecom to deploy an LTE network in the Philippines in April.