SK Telecom revenue grows 5% thanks to 5G business

SK Telecom has reported revenue of KRW 18.625 trillion, operating income of KRW 1.349 trillion, and net income of KRW 1.501 trillion in 2020.
SK Telecom to expand LTE speed
Net income of SK Telecom stood at 371 billion won (US$333 million) in the October-December period, compared with a net loss of 45.4 billion won the previous year.

Operating income of SK Telecom reached 331.1 billion won, more than doubling from 158.1 billion won the previous year, while sales rose 9.7 percent to 4.8 trillion won over the same period.

SK Telecom said a strong performance from its chipmaking affiliate SK hynix improved its bottom line.

The mobile carrier holds a 20 percent stake in the memory chip giant, which reported last month that net income reached 1.76 trillion won during the October-December period, turning from a loss of 125.6 billion won a year earlier.

SK Telecom also attributed its improved performance to increased mobile subscriptions.

The mobile carrier’s 5G subscriber-base stood at 5.5 million as of the end of last year, up by more than 1 million in September, according to government data.

The company expects its 5G subscribers to continue to grow and reach 9 million by the end of this year.

For the whole of last year, SK Telecom’s net income stood at 1.5 trillion won, up 74.3 percent from the previous year, while operating income rose 21.8 percent to 1.35 trillion won. SK Telecom’s annual sales rose 5 percent to 18.6 trillion won.