Tariff Cuts Hit SK Telecom Earnings, but Memory Market Saves the Day
Operating profit in SKT’s core telecom business for fourth-quarter 2017 was down 5.5%, with government-mandated tariff cuts introduced on Sept. 15, 2017, negatively affecting mobile, partially offset by growth in IPTV and Internet of Things, or IoT, revenue. While the noncore business (excluding SK Hynix) reported an operating loss of KRW 64.8 billion, this at least represented an improvement on the KRW 95.1 billion loss in the year-ago quarter. Given the very strong memory semiconductor market,...
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