SK Telecom Q1 2014: revenues up 3.4%, LTE user base reaches 14.7 million

SK Telecom today said its Q1 2014 revenue rose 3.4 percent to KRW 4.202 trillion, while net income dropped 22.7 percent to KRW 267.3 billion. LTE 4G was one of the growth drivers.

The drop in net income was primarily due to the temporary increase in marketing expenses and payment of compensation for the recent network failure incident.

The number of LTE subscribers of SK Telecom stands at 14.77 million. Its 4G user base now accounts for 53.1 percent of its total mobile subscribers.

SK Telecom to expand LTE speed

SK Telecom today said it expects the LTE 4G subscriber proportion to reach two-thirds of the entire mobile customers by the end of this year. The rising trend of data consumption of customers is also expected to help improve profits over the mid to long term.

The company said its enterprise business rose 38 percent to KRW 115.5 billion.

SK Telecom focuses on IoT businesses including the automobile area aligned with smart car, asset management with regard to cargo and high-value assets and the agricultural sector among others.

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