SK Telecom announces jump in Q1 profits

e14news — Thu, 07 Oct 2021 09:15:53 GMT

Current Revision posted to Documents by e14news on 10/7/2021 9:15:53 AM
SK Telecom Co, South Korea's largest mobile-phone operator, has announced a 57 per cent jump in first- quarter profit.

According to the Seoul-based company, net income rose to 537.3 billion won from 343.3 billion won a year earlier. The firm added that it expects to surpass its target of ten million smartphone subscribers by the end of the year.

SK Telecom said that it also plans to stimulate capital spending to a record this year in order to upgrade networks.

"Earnings will be good at least until the second quarter," commented Kim Hue Jae, a Seoul-based analyst at Daishin Securities Co.

He added: "Smartphones are behind their growth story."

In other news, new research has claimed that Nokia must put the needs of mobile operators ahead of consumers' more radical requirements for its tie-up with Microsoft to take off.

Michael Morgan, senior analyst of mobile devices at the global connectivity and emerging technology market intelligence company, said Nokia is the "only ecosystem that is 'trusted' by global carriers".

Posted by Andre Dixon