April 25, 2024

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[THE INVESTOR] The nation’s third-largest telecom carrier LG Uplus said on Oct. 31 its third-quarter operating profit gained 22.8 percent compared to a year ago, largely boosted by a steady rise in mobile phone subscribers.

The company said its operating profit stood at 211.4 billion won (US$184.3 million) for the July-September period. Revenue was up .07 percent to 2.7 trillion won.

Like its bigger rivals SK Telecom and KT, the firm has benefited from a 2015 law that put limits on subsidies for new phone purcase. 

The number of subscribers rose 4.8 percent on year to 12.36 million for the quarter, the company said.

(theinvestor@heraldcorp.com)