ID :
199062
Thu, 08/04/2011 - 07:16
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Shortlink :
https://oananews.org//node/199062
The shortlink copeid
SK Telecom logs higher Q2 net on non-telecom business
(ATTN: RECASTS headline, lead; ADDS more details in para 5-12)
SEOUL (Yonhap) - SK Telecom Co., South Korea's leading mobile operator, said Thursday that its second-quarter earnings rose 3.7 percent from a year ago on higher profits from non-telecom business.
Net profit amounted to 465.4 billion won (US$439.8 million) in the April-June period, compared with a revised 448.9 billion won one year earlier, it said in a regulatory filing.
The figure hovered below the market consensus of 501.1 billion won offered by six analysts polled by Yonhap Infomax, the financial news arm of Yonhap News Agency.
Sales rose 5.7 percent on-year to 4.04 trillion won and operating profit increased 2 percent to 659.7 billion won in the same period, it said.
Shares of SK Telecom were trading at 145,000 won on the Seoul bourse as of 11:30 a.m., up 0.69 percent from Wednesday's close.
SK Telecom said that its non-telecom businesses, such as its online shopping mall and resale of fixed-line products from affiliate SK Broadband, doubled from the previous year and fueled overall growth.
The profit increase from its main wireless business, however, was relatively small, reflecting the stagnant growth in the domestic mobile market.
The second-quarter operating profit from the mobile business, including high-end smartphone sales and wireless data usage fees, inched up 2 percent from the previous year, according to its financial statement.
The average revenue per user, a key barometer for gauging mobile operators' performance, declined in the second quarter from the previous year.
SK Telecom, which competes with fixed-line leader KT Corp. and smaller rival LG Uplus Corp., secured 7.5 million smartphone subscribers as of June and it aims to secure another 2.5 million by the end of this year.
The company introduced the new Galaxy S2 smartphone from Samsung Electronics Co. at the end of April. At the end of March, the company also began to offer Apple Inc.'s iPhone, putting it into competition with KT, the second-largest mobile carrier, which had previously been an exclusive local distributor of the iPhone.
SK Telecom spokesman said iPhone sales had little impact on its second-quarter bottom line but declined to give a sales figure.
The company has been trying to find overseas revenue sources and break into sectors beyond telecom as growth in the local wireless market has stagnated.
SK Telecom, which controls about half of the country's wireless market, plans to separate its unit in charge of mobile software, mobile content and online commerce businesses and set up a wholly owned company in October.
Last month, the mobile operator was one of two companies that submitted a letter of intent to acquire a controlling stake in Hynix Semiconductor Inc., the world's second-largest memory chipmaker.
SEOUL (Yonhap) - SK Telecom Co., South Korea's leading mobile operator, said Thursday that its second-quarter earnings rose 3.7 percent from a year ago on higher profits from non-telecom business.
Net profit amounted to 465.4 billion won (US$439.8 million) in the April-June period, compared with a revised 448.9 billion won one year earlier, it said in a regulatory filing.
The figure hovered below the market consensus of 501.1 billion won offered by six analysts polled by Yonhap Infomax, the financial news arm of Yonhap News Agency.
Sales rose 5.7 percent on-year to 4.04 trillion won and operating profit increased 2 percent to 659.7 billion won in the same period, it said.
Shares of SK Telecom were trading at 145,000 won on the Seoul bourse as of 11:30 a.m., up 0.69 percent from Wednesday's close.
SK Telecom said that its non-telecom businesses, such as its online shopping mall and resale of fixed-line products from affiliate SK Broadband, doubled from the previous year and fueled overall growth.
The profit increase from its main wireless business, however, was relatively small, reflecting the stagnant growth in the domestic mobile market.
The second-quarter operating profit from the mobile business, including high-end smartphone sales and wireless data usage fees, inched up 2 percent from the previous year, according to its financial statement.
The average revenue per user, a key barometer for gauging mobile operators' performance, declined in the second quarter from the previous year.
SK Telecom, which competes with fixed-line leader KT Corp. and smaller rival LG Uplus Corp., secured 7.5 million smartphone subscribers as of June and it aims to secure another 2.5 million by the end of this year.
The company introduced the new Galaxy S2 smartphone from Samsung Electronics Co. at the end of April. At the end of March, the company also began to offer Apple Inc.'s iPhone, putting it into competition with KT, the second-largest mobile carrier, which had previously been an exclusive local distributor of the iPhone.
SK Telecom spokesman said iPhone sales had little impact on its second-quarter bottom line but declined to give a sales figure.
The company has been trying to find overseas revenue sources and break into sectors beyond telecom as growth in the local wireless market has stagnated.
SK Telecom, which controls about half of the country's wireless market, plans to separate its unit in charge of mobile software, mobile content and online commerce businesses and set up a wholly owned company in October.
Last month, the mobile operator was one of two companies that submitted a letter of intent to acquire a controlling stake in Hynix Semiconductor Inc., the world's second-largest memory chipmaker.
