Jan
29
Written by:
Editor
1/29/2009 8:59 AM
Korean mobile operator KT Freetel (KTF) almost doubled its net income in the fourth quarter ended 31 December, as marketing and advertising costs fell. Service revenues were KRW 1.53 trillion, up 4.6 percent from KRW 1.47 trillion in Q4 2007. EBITDA rose 19 percent to KRW 496.04 billion from KRW 413.72 billion, and net income was KRW 101.91 billion versus KRW 53.05 billion in the year-ago period. Capex fell 13.2 percent due to reduced investments in WCDMA, to KRW 963.49 billion for the full year. KTF ended the year with 14.37 million mobile subscribers, which comprises 8.27 million WCDMA subscribers and 6.09 million CDMA subscribers. Recently, Korea Telecom announced it will merge with the mobile subsidiary KTF. KT holds 54 percent of KTF.
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