KT Releases Poor Results for 1Q
KT Releases Poor Results for 1Q
  • By Lee Jun-seung (junseung@koreaittimes.com)
  • 승인 2014.05.01 19:38
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SEOUL, KOREA - KT reported its first-quarter results, the last among Korea’s top-three telecom companies. Its first-quarter performance was disappointing due to the impact of the illegal subsidy competition and the sluggish fixed-line business.

 

KT announced on April 30 that it registered sales of 5.84 trillion won for the first quarter of this year, down 4.2 percent year on year. Operating profit plunged 58.6 percent to 152 billion won. It also slipped into a net loss of 40.9 billion won.

The first-quarter sales were affected by the decline in both fixed-line and product sales. Fixed-line sales fell 6.7 percent year on year to 1.42 trillion won due to the decreases in the number of fixed-line subscribers and calls. Its ultra-high speed Internet service sales, however, rose 2.3 percent from a year ago.

KT’s wireless telecom sales rose 1.5 percent year on year to 1.78 trillion won thanks to the increase in the number of LTE subscribers and the growth in average revenue per unit (ARPU). As of the end of March, the share of LTE subscribers in its total subscribers reached 52.4 percent. The decline in operating profit is attributable to the increase in marketing expenses which amounted to 775.2 billion won in the first quarter, up 80 billion won from a year ago.


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