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 Thursday, April 24, 2008

Wireless network operator SK Telecom has reported a 3% decline in its first-quarter net profit as a result of higher expenses. Net income for the three months ended 31 March 2008 was SKW382.89 billion (USD387 million), down from SKW396.31 billion in the same period of 2007. Operating revenue for the quarter rose 5% to SKW2,837 billion from SKW2,712 billion a year earlier, but was down 3% on the SKW2,916 billion recorded in the preceding fourth quarter. The company's total subscribers base rose 8% year-on-year to 22.37 million, despite monthly churn rising from 2.6% to 3.1%.

Source: TeleGeography.