SK Telecom’s 5G subscribers reached 2.65 mn in first quarter

SK Telecom today said its total 5G subscriber base reached 2.65 million in the first quarter of 2020.
SK Telecom Announces the Worlds First 5G Smartphone SubscribersSK Telecom plans to introduce differentiated 5G services including cloud games and AR/VR services. SK Telecom will strengthen its marketing activities centered on 5G Clusters, where customers can experience 5G services.

SK Telecom will focus on providing its customers with a new communication experiences by promoting hyper-collaboration with diverse companies throughout the globe. SK Telecom did not reveal more details.

SK Telecom reported revenue of KRW 4.450 trillion (+2.7 percent), operating income of KRW 302 billion (–6.4 percent), and net income of KRW 306.8 billion (–17.9 percent) during Q1 2020.

SK Telecom has achieved 2.7 percent growth in revenue backed by the growth of its 5G subscribers and new businesses.

SK Telecom’s operating income fell 6.4 percent due to expanded 5G network investment costs including 5G spectrum licensing fees. Net income fell by 17.9 percent affected by factors including decreased equity method gains from SK Hynix.

SK Telecom’s new business areas including media, security and commerce sustained their solid growth in the first quarter of 2020.

SK Broadband’s revenue increased 8.2 percent to KRW 823.5 billion backed by the growth of its IPTV business.

“We have diversified our business portfolio centered on mobile communication, media, security and commerce to attain sustainable long-term growth,” said Yoon Poong-young, chief financial officer of SK Telecom.