SK Telecom launched world’s first 5G service on April 3, 2019 and has been focusing on offering differentiated 5G services.
The company has been focusing on content based on its advanced network security and operation technologies as well as close partnership with ICT companies throughout the globe, while also promoting early stabilization of the 5G network.
Building on its 5G infrastructure, the company plans to seek diverse business opportunities in the areas of media, security and commerce.
Media business is keen to develop new opportunities in 5G-based media in collaboration with many broadcasting companies to increase IPTV subscribers, expand mobile OTT business and secure new content and services. In addition, the company expects to create new business models and synergies by combining its existing service platforms with the capabilities of the newly acquired digital advertisement firm Incross.
SK Telecom posted revenues of KRW 4.335 trillion, operating income of KRW 322.6 billion and net income of KRW 373.6 billion in Q1 2019. The company expects to improve earnings through balanced growth of its four business areas, namely MNO, media, security and commerce.
SK Telecom’s revenue increased by 3.7% and operating income fell by 0.9% compared to the same period last year. As the decreased revenue in mobile communications business has been offset by improved efficiency of marketing expenses and performance of subsidiaries, the revenue posted a year-on-year(YoY) increase, while the operating income remained similar to last year.
“SK Telecom will continue to 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, SK Telecom.
The company has been continuously implementing diverse measures aimed at innovating customer value such as selective contract discount plan, roaming services (T Roaming) and price plans (T Plan). The company said that the revenue decline began slowing down from the first quarter and the earnings will gradually improve with the spread of 5G service.