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SK Telecom registered profit growth and revenue gains across most business units in Q2, with mobile flat due to falling ARPU.

Net profit grew 34.8 per cent year-on-year to KRW347.8 billion ($273.7 million), due in part to one-off gains in an investment in Joby Aviation.

The operator invested $100 million in the US-based urban air mobility company in June to acquire a 2 per cent stake.

Consolidated revenue was flat at KRW4.3 trillion.

Mobile revenue remained at KRW2.6 trillion despite monthly ARPU falling 2.4 per cent to KRW29,920, its fourth consecutive quarterly decline.

SKT’s 5G subscribers grew 25.6 per cent to 14.7 million, attributed to the launch of a diverse range of price plans for various age groups in March.

Its total mobile base rose 3 per cent to 31.2 million.

on an earnings call, CFO Kim Jin-won recommitted to becoming a leading global AI company by strengthening its capabilities and fostering partnerships.

The company said it continued to enhance a large language model, resulting in a more logical and useful conversation.

SK Broadband’s revenue increased 3.4 per cent to KRW1.1 trillion.

Pay-TV sales grew 1.5 per cent to KRW474 billion and fixed-line 3.4 per cent to KRW265 billion.

Enterprise revenue grew 9.4 per cent to KRW407.1 billion, driven by 30 per cent growth in its data centre unit and a 60 per cent gain in its cloud business.

Capex rose 2.4 per cent to KRW826 billion.

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