Monday, November 17, 2008

SK Telecom Loses 36K IPTV Subscribers in 3Q08

SK Telecom (formerly Hanaro Telecom) lost 36,184 in 3Q08, leaving it with 768,625 subscribers at the end of the quarter. This was on top of losing another 77,547 subscribers in 2Q08. SK Telecom offers a video on demand service and is expected to offer a broadcast service in the next few month. Its revenue for the service was $15 million U.S. during the quarter.

The company lost 21,485 broadband subscribers in 3Q08 leaving it with a total of 3.44 million broadband subscribers. This is on top of a loss of 160,599 broadband subscribers in 2Q08. It has not added broadband subscribers since 3Q07.

SK Telecom has been hit with a significant shrinkage of its broadband business since it acquired Hanaro. Its loss of IPTV subscribers is a reflection of this trend.

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