South Korea’s three major telecom operators, SK Telecom, KT and LG U+, are the world’s first manufacturers to launch 5G commercial services. They launched 5G commercial services on April 3, 2019. , 5G has been commercialized in South Korea for more than two years.
Driven by the substantial increase in 5G users, the performance of South Korean telecom operators has also improved significantly. KT's financial report shows that, driven by the substantial increase in 5G users, their net profit in the third quarter increased significantly year-on-year.
KT's financial report released on Tuesday showed that their revenue in the third quarter was 6,217.4 billion won, or about 5.28 billion U.S. dollars, a month-on-month increase of 3.1% and a year-on-year increase of 3.6%.
In terms of net profit, the financial report showed that it was 337.7 billion won in the third quarter, equivalent to 287 million U.S. dollars, less than 370.8 billion won in the previous quarter, but much higher than 229.9 billion won in the same period last year, an increase of 46.9% year-on-year .
Foreign media mentioned in the report that KT believes that their net profit in the third quarter increased significantly year-on-year, mainly due to the substantial growth of 5G users and the development of media content business.
In the financial report, KT also disclosed the number of 5G users. At the end of the third quarter, there were 5.617 million, an increase of 12% from 5.014 million at the end of the previous quarter, and an increase of 99.7% from the 2.813 million at the end of the third quarter of last year, nearly doubling year-on-year. .
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