LG Uplus will expedite the deployment of the 5G network and develop various services to create new business opportunities, its chief executive said on March 15.
LG Uplus CEO Ha Hyun-hoi said South Korea’s No. 3 mobile carrier will offer a wide range of media services to gain a competitive edge in its 5G business, based on a wider customer base following its acquisition of the nation’s No. 1 cable operator, CJ Hello, last month.
“The 5G services will change the everyday lives of our customers, creating new business opportunities not only in the business-to-customer business but also in the business-to-business areas, including autonomous vehicles, smart factories and smart cities,” he said in a shareholders meeting at the company’s headquarters in Seoul.
“We will proactively respond to the fast-changing business environment and concentrate on key services for sustainable growth.”
The telecom company logged sales of 12.1 trillion won ($10.60 billion) in 2018, with 730.9 billion of operating profits. It offered 400 won in dividends for per share, the same as last year.
LG Uplus has been teaming up with Chinese network manufacturer Huawei to deploy the next-generation cellular technology in the nation.
By Ram Garikipati and newswires (firstname.lastname@example.org)