KT reported that competition among operators for subsidies has not overheated since the abolition of the Device Distribution Regulation Act (subsidy law).
On the 11th, KT stated during a conference call for its second quarter earnings report that, "Although the new Galaxy flagship model has been released, we do not see any excessive subsidies competition that would be concerning in the market." It also noted, "There is a possibility that competition will intensify when the new iPhone is released, but we believe that such situations will be difficult to prolong in the long term."
KT added, "The 5G penetration rate has increased to over 80%, and the replacement cycle for devices has lengthened." It emphasized, "Telecommunication companies should focus on investments in artificial intelligence (AI) and information technology (IT) areas, and it believes that competition in the wireless market will not persist intensely in the long term."
KT announced that its second quarter revenue reached 7.4274 trillion won, a 13.5% increase compared to the same period last year. Operating profit for the second quarter was 1.148 trillion won, up 105.4% from the previous year. This is the first time that KT's quarterly operating profit has surpassed 1 trillion won.