LG Telecom Q4 net plunges on higher costs

SEOUL, Jan. 29 (Yonhap) -- LG Telecom Ltd., South Korea's third-largest mobile
carrier, said Thursday its fourth-quarter earnings plunged nearly 28 percent from
a year earlier due to increased marketing costs.
Net profit stood at 40.5 billion won (US$29.7 million) in the three months to
December, down 27.7 percent from a 56 billion won profit a year earlier, LG
Telecom said in a regulatory filing.
Sales rose 0.9 percent on-year to 1.18 trillion won and operating profit climbed
26.6 percent to 71.3 billion won.
For all of 2008, net profit rose 3 percent on-year to 283.6 billion won. Sales
climbed 4.6 percent to 4.8 trillion won with operating income rising 17 percent
to 379 billion won.
At the end of December, LG Telecom had 8.21 million subscribers, accounting for
18 percent of the local mobile phone market, where more than nine out of 10
people own a mobile phone.
ygkim@yna.co.kr
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