SK Telecom today said its 5G services in South Korea are expected to fuel growth in revenue in coming quarters.

SK Telecom reported revenue of KRW 4.335 trillion (+3.7 percent), operating income of KRW 322.6 billion (–0.9 percent), and net income of KRW 373.6 billion (–46.1 percent) for the first quarter of 2019.
SK Telecom said that the reduced impact of the rise in the number of contract discount plan subscribers and the plan’s increased discount rate on revenue decline, coupled with improved performance of its subsidiaries had positive effects on the first quarter earnings.

SK Telecom said that the revenue decline began slowing down from the first quarter and the earnings will gradually improve with the spread of 5G service.

SK Telecom, which launched the world’s first 5G service based on smartphones on April 3, focuses on offering differentiated 5G services and content based on its network security and operation technologies. The company plans to seek diverse business opportunities in the areas of media, security and commerce.

“SK Telecom will improve its earnings performance and secure a solid basis to grow into New ICT company by achieving balanced growth of its four main business areas and developing new business opportunities in areas such as AI, IoT, big data and mobility,” said Yoon Poong-young, chief financial officer of SK Telecom.