LG Telecom profits from switchers
LG Telecom Ltd., Korea’s third-largest mobile-phone operator, reported profit rose 63 percent in the July-September period as subscribers switched from rival operators after a change in government regulations. Net income rose to 44 billion won ($39 million) in the third quarter, compared with 27 billion won a year earlier, the company said in a regulatory filing. Sales rose 42 percent to 788 billion won. LG gained as customers of SK Telecom Co. and KT Freetel Co. were given the freedom this year to switch phone companies without changing their call numbers. LG, whose subscribers will be able to switch operators and keep their numbers in January, raised its market share to 16.3 percent last month from 14.3 percent a year earlier.
with the Korea JoongAng Daily
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