SK Telecom targets 6-7 mn 5G subscribers in 2020

SK Telecom has revealed that the number of 5G subscribers reached 2.08 million in 2019. It aims to achieve a 5G subscriber-base of 6 to 7 million in 2020.

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SK Telecom plans to strengthen its 5G service competitiveness and launch 5G services for enterprise customers through collaborations. SK Telecom did not reveal its Capex plans for the year.

SK Telecom has reported revenue of KRW 17.744 trillion (+5.2 percent), operating income of KRW 1.110 trillion (–7.6 percent), and net income of KRW 861.9 billion (–72.5 percent) in 2019.

The growth in annual revenue was due to sizable growth in its new business areas including media and security, along with its strengthened leadership in the mobile business through the world’s first commercialization of 5G.

SK Telecom said it expects revenue of KRW 19.2 trillion in 2020 based on performance of its mobile communication business driven by 5G market expansion, and solid growth of media, security and commerce businesses.

Yoon Poong-young, chief financial officer of SK Telecom, said: “SK Telecom will increase its corporate value through improved performance of mobile communication business and sustained growth of new businesses.”

The carrier’s capital expenditure in 2019 is expected to increase by 30 percent to 40 percent compared to last year due to investments in 5G base stations. The company’s annual facility investments are estimated at between 2.73 trillion won and 2.94 trillion won in 2019. In 2018, it invested 2.1 trillion won in telecom facilities.

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