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| ▲ SK Telecom Co.'s headquarters in central Seoul is seen in this undated file photo provided by the company. (PHOTO NOT FOR SALE) (Yonhap) |
(LEAD) SK Telecom-Q4 earnings
(LEAD) SK Telecom's Q4 net down 14 pct on non-telecom spinoff
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SEOUL, Feb. 9 (Yonhap) -- SK Telecom Co., South Korea's largest mobile carrier, said Wednesday its fourth-quarter net profit fell 14 percent from a year earlier due mainly to its non-telecom spinoff.
Net profit fell to 314.8 billion won (US$263.4 million) in the October-December period from a profit of 365.9 billion won the previous year, the company said in a regulatory filing.
Operating income reached 226.7 billion won, down 22.6 percent from 292.7 billion won the previous year, while sales rose 3.9 percent to 4.29 trillion won over the same period.
For the whole of 2021, the company enjoyed a strong performance, with net profit jumping 61.2 percent to 2.42 trillion won and operating income increasing 11.1 percent to 1.39 trillion won last year. Annual sales rose 4.1 percent to 16.75 trillion won.
Sales from its mobile service grew to 2.59 trillion won in the fourth quarter thanks to continued subscriber growth.
The mobile carrier's 5G users stood at 9.87 million as of the end of last year, accounting for nearly half of total mobile subscriptions to 5G networks, according to government data.
On Nov. 1, SK Telecom split into two companies, spinning off the new investment company SK Square in the latest move to make aggressive investments in new tech and semiconductor businesses.
The surviving SK Telecom largely focuses on its traditional telecom business while advancing new businesses, including metaverse-based services and artificial intelligence.
SK Square oversees 16 of SK Telecom's existing non-telecom and tech units, including chipmaking affiliate SK hynix Inc., app market operator ONE Store, e-commerce platform 11Street and T Map Mobility.
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