SK Telecom Q2 profit up 5%

SEOUL: South Korea’s top mobile carrier SK Telecom Co reported a 5% rise in quarterly profit yesterday, helped by increased data use by smartphone subscribers and reduced marketing spending. The company faces a tougher outlook as it offers generous incentives and service plans to retain customers.

SK, which controls half of the country’s mobile phone market, posted 582 billion won (US$491mil) in operating profit for the quarter ended June, below a mean forecast for 641 billion won from analysts polled by Thomson Reuters I/B/E/S.

The results compared with the year earlier’s 553 billion won and 480 billion won three months before. — Reuters