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SK Telecom Reports 2012 Profit of KRW1.1T

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SEOUL, South Korea -- SK Telecom (NYSE:SKM) announced its earnings on a K-IFRS consolidated basis for year 2012: revenue of KRW 16.301 trillion, operating income of KRW 1.760 trillion and net income of KRW 1.116 triillion. Despite expanded revenue-decreasing factors like mobile rate cuts and diversified competitive landscape, the revenue increased by 2.3% year-on-year (YoY) backed by its strengthened leadership in LTE, growth of its enterprise business, and strong performance of subsidiaries including SK Broadband and SK Planet. The operating income decreased by 23.3% YoY due to factors including increases in LTE marketing expenses driven by rapid growth of LTE subscribers and investment costs to upgrade networks to accommodate surging data traffic. The consolidated net income for the year 2012 stood at KRW 1.116 trillion, 29.5% lower than that of the previous year. SK Telecom

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