SK Telecom’s Q4 profit jumps 109.5%

SK Telecom said Wednesday that it has recorded 18.62 trillion won in sales and 1.35 trillion won in operating income for the full-year of 2020.

The figures are an on-year increase of 5% and 21.8%, respectively. In the fourth quarter, SK Telecom posted 331.1 billion won in operating income, a rise of 109.5% on-year.

The carrier said its new businesses, including media, contributed 24% in its annual operating income. In 2019, they contributed around 14%.

In annual net income, SK Telecom posted 1.5 trillion won, a rise of 74.3% on-year. Profits of SK Hynix were reflected from gain on valuation using the equity method.

SK Telecom said its five core business were completed in 2020, with mobile network operator and new businesses showing balanced growth. It will grow into an artificial intelligence-based big tech company in 2021, the carrier claimed, with annual sales of over 20 trillion won.