SK Telecom, the largest telecommunications operator in South Korea, released its third-quarter financial report. Their net profit for the quarter year-on-year grew substantially. Moreover, SK Telecom’s third-quarter net profit increased significantly, due to the substantial increase in 5G users and the increase in equity income.
In terms of 5G users, SK Telecom unveiled its financial report that as of the end of the third quarter, their 5G users reached 8.65 million, accounting for 27.4% of the total number of mobile users, an increase of nearly 950,000 from the end of the second quarter.
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Besides, SK Telecom completed its first reorganization in its 37-year history on November 1. Now it only focuses on the telecommunications business, and the independent entity SK Square is responsible for non-telecommunications businesses such as new investments in semiconductors and information and communication technology.
Similarly, another telecom company in South Korea that is KT their revenue in the third quarter was 4.97 trillion won, equivalent to 4.205 billion U.S. dollars, which was higher than 4.73 trillion won in the same period last year.
In terms of the net profit of SK telecom, it was 736.5 billion won, which was much higher than the 391.8 billion in the same period last year, an increase of 88% year-on-year, but it was less than the previous quarter’s 795.7 billion won, a decrease of 7.4% from the previous quarter.
