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SK Telecom Q1 profit jumps 29.3% boosted by Loen stake sale
2016-05-02 09:31:00| Telecompaper Headlines
(Telecompaper) SK Telecom saw its first-quarter revenue reach KRW 4.229 trillion, which represents a decline of 0.3 percent year-on-year. The drop was mainly due to the elimination of sign-up fees and increased number of subscribers who choose contract-based mobile fee discounts, the company said. Despite reduced equity method gain from SK Hynix, the net income increased by 29.3 percent year-on-year, reaching KRW 572.3 billion at 31 March 2015, as SK Planet sold its controlling stake in Loen Entertainment in the first quarter of 2016.
Tags: sale
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Category:Telecommunications
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