Wednesday, September 17, 2014   

SK Telecom profit surges in 2013
(01-28 12:18)

SK Telecom, South Korea's biggest wireless operator, said Tuesday its net profit for 2013 jumped 44.3 percent on increased value of its stock investment and expansion of lucrative 4G services.
Net profit jumped to 1.6 trillion won from 1.1 trillion won in 2012, while operating profit rose 16.2 percent to 2.0 trillion won from 1.7 trillion won, AFP reports.
The firm said net profit was boosted by the increased value of its stock holdings in SK Hynix, the world's number two memory chipmaker whose annual net profit for 2013 hit a record high.
Sales also rose 2.9 percent to 16.6 trillion won, the company said in a statement.
Net profit for October-December came in at 293.6 billion won, down 43 percent from a year ago when the firm's bottom line was boosted by one-off sales of property and a stake in steel giant POSCO.
Operating profit for the fourth-quarter fell 5.4 percent on-year to 509.7 billion on heavy spending for marketing, while sales rose 3.3 percent to 4.29 trillion won.
The company said the number of subscribers to its 4G long-term evolution (LTE) service rose to 13.5 million at the end of last year -- about a half of its entire customer base.
A year ago, the firm had 7.53 million customers for the LTE service, which offers quicker connection speed.
South Korea -- one of the world's most-wired nations -- has about 37 million smartphone owners -- in a total population of 50 million.
At least 27 million -- or more than 70 percent -- are using LTE services, according to data from the country's three wireless operators.   
Other Business breaking news:
Hang Seng rises at noon (1 hr 12 mins ago)
Nikkei inches up at midday (2 hrs 23 mins ago)
German investor optimism down on concerns of Ukraine, Scotland (09-16 18:22)
UK inflation slows in August (09-16 17:28)
Japan, China, SKorea finance chiefs to hold talks this week (09-16 17:00)
Hang Seng ends lower in shortened trade (09-16 16:19)
European stocks markets down at open (09-16 15:27)
Nikkei ends lower (09-16 14:26)
China's overseas investment soars as FDI drops again (09-16 11:46)
Tools available to remove U2 album from iTunes (09-16 10:57)

More breaking news >>

© 2014 The Standard, The Standard Newspapers Publishing Ltd.
Contact Us | About Us | Newsfeeds | Subscriptions | Print Ad. | Online Ad. | Street Pts

 


Home | Top News | Local | Business | China | ViewPoint | CityTalk | World | Sports | People | Central Station | Spree | Features

The Standard

Trademark and Copyright Notice: Copyright 2014, The Standard Newspaper Publishing Ltd., and its related entities. All rights reserved.  Use in whole or part of this site's content is prohibited.   Use of this Web site assumes acceptance of the
Terms of Use, Privacy Policy Statement and Copyright Policy.  Please also read our Ethics Statement.