SK Telecom has reported revenue of KRW 4.475 trillion (up 2.3 percent), operating income of KRW 498.5 billion (up 0.8 percent), and net income of KRW 361.9 billion (up 19.6 percent) for the first quarter of 2024.
SK Telecom has secured 15.93 million 5G subscribers, 9.59 million pay TV subscribers and 6.99 million broadband subscribers as of the end of the first quarter.
SK Telecom spent KRW 317 trillion (up 49.7 percent) towards its capital expenditure (Capex) in Q1 2024. SK Telecom’s Capex touched KRW 1,256 trillion in 2023.
SKT’s enterprise business grew steadily to become a solid growth driver in the non-telecom space, with sales of enterprise AI expanding by more than 10 percent.
SKT’s strategy is to accelerate the execution of its AI Pyramid Strategy and focus on creating concrete results in three key areas this year: AI Infrastructure, AI Transformation (AIX), and AI Service.
In the AI Infrastructure area, the data center business recorded a 26 percent revenue growth backed by continuous increase in utilization rate. SKT plans to develop its data center business into the AI data center business.
SKT’s enterprise business revenue grew by 10 percent, with cloud business revenue growing by 40 percent. SKT plans to foster enterprise AI as the central pillar of its enterprise business by developing innovative AI-powered products.
In the AI Service area, SKT began offering popular call-related features of A. – e.g. call summary, real-time call interpretation, etc. – that were first made available for the iOS version last December to Android users since April 2024. The company will continue to add attractive features to A. to further evolve the service into a truly personalized AI assistant.
SKT’s subscription service T Universe has surpassed 2.6 million monthly active users as of the end of the first quarter affected by its YouTube Premium package. The company plans to develop T Universe into a subscription market in the first half of this year.
Baburajan Kizhakedath
