LG Uplus stated it included 980,000 5G customers throughout 2023
Korean operator LG Uplus ended the 4th quarter of 2023 with 7.04 million 5G customers, up 16.2% year-on-year, according to the business’s most current revenues declaration.
The telco included an overall of 980,000 5G customers throughout 2023, while overall net additions in the 4th quarter reached 221,000.
The Korean business likewise kept in mind that 5G customers represented 64.3% of the telco’s total mobile base at the end of 2023, up from 54.1% at the end of 2022.
The telco’s mobile user base grew 17.2% year-on-year to 18.8 million. MVNO users leapt 63% to 6.43 million, while IoT connections rose 80% year-on-year to 10.3 million.
Net earnings in the 4th quarter of 2023 amounted to 105.2 billion won ($ 79.2 million), down 34% compared to a net earnings of 159.4 billion won in Q4 2022. For complete 2023, the provider’s net earnings totaled up to 630.2 billion won, down 4.9% year-on-year.
LG Uplus’ Q4 incomes totaled up to 3.82 trillion won, up 5.8% compared to the very same duration in 2022, while yearly incomes amounted to 14.37 trillion won, up 3.4% year-on-year.
On the other hand, the telco’s operating earnings decrease by 31.8% year-on-year to 195.5 billion won in the 4th quarter. For complete 2023, running earnings reached 998 billion won, down 7.7% year-on-year.
LG Uplus likewise stated that sales from its cordless department reached 1.58 trillion won in the 4th quarter, up 0.6% year-on-year.
In 2015, the federal government of South Korea successfully cancelled the spectrum licenses in the 28 GHz band that had actually been formerly designated to regional operators for 5G implementations, due to the absence of financial investment and missed out on rollout requirements.
Through the choice regional operators LG Uplus, SK Telecom and KT Corp. lost the right to utilize the 28 GHz frequencies they had actually won in a spectrum auction in 2018.
The Ministry of Science and ICT kept in mind that the choice was made due to the fact that regional providers stopped working to release the 28 GHz radio stations that were needed as part of the licensing.
The 3 operators had actually protected frequencies in the 3.5 GHz and 28 GHz bands in 2018, under the condition that they each release 22,500 and 15,000 radio stations for each spectrum band.
The federal government kept in mind that telcos had actually satisfied with the specified variety of radio stations for the 3.5 GHz spectrum however all stopped working to reach the implementation objective for the 28GHz frequencies.