SK Telecom President and CEO Jang Dong-Hyun today announced the company’s growth strategy to sustain growth.
The company’s growth strategy mainly focuses on three Next-Generation Platforms such as Lifestyle Enhancement Platform, Advanced Media Platform and IoT Service Platform.
The Korean company will look at things from the user’s point of view and work with partners, including venture companies, startups and SMEs, to achieve breakthrough performance.
By implementing these Next-Generation Platforms, SK Telecom and its subsidiaries aim to reach market value of KRW 100 trillion by 2018. SK Telecom achieved KRW 17.164 trillion in revenue in 2014. As of December 2014, the company has more than 16.7 million LTE and LTE-Advanced subscribers.
SK Telecom plans to develop Lifestyle Enhancement Platform that runs Content, Community and Commerce. SK Telecom has set up a new organization named T Valley earlier this year to focus on new business models relevant to customers lifestyle (shopping, home, security, finance, education, etc.) and preferences (entertainment, media, sports, fashion, etc.).
SK Telecom will also build Advanced Media Platform by strengthening its existing media services and seeking new media services to respond to the personalization trend occurring in the media industry. Through the platform, the company aims to secure 15 million media service customers by 2018.
SK Telecom will nurture IoT Service Platform to develop diverse new business models for both individual and enterprise customers.
In May 2015, the company plans to launch a Smart Home service, which enables users to control diverse home appliances, including dehumidifier, door lock and boiler, via smartphones. The service will run on Mobius, an open IoT platform that enables players to provide value-added services by combining their ideas and technologies regardless of device.
SK Telecom plans to expand its Lifeware business by introducing new products.