LG Uplus ends 2023 with over 7 million 5G subscribers


LG Uplus mentioned it added 980,000 5G subscribers throughout 2023

Korean operator LG Uplus ended the fourth quarter of 2023 with 7.04 million 5G subscribers, up 16.2% year-on-year, in accordance with the corporate’s newest earnings assertion.

The telco added a complete of 980,000 5G subscribers throughout 2023, whereas whole web additions within the fourth quarter reached 221,000.

The Korean firm additionally famous that 5G subscribers accounted for 64.3% of the telco’s total cell base on the finish of 2023, up from 54.1% on the finish of 2022.

The telco’s cell consumer base grew 17.2% year-on-year to 18.8 million. MVNO customers jumped 63% to six.43 million, whereas IoT connections surged 80% year-on-year to 10.3 million.

Internet revenue within the fourth quarter of 2023 totaled 105.2 billion gained ($79.2 million), down 34% in contrast with a web revenue of 159.4 billion gained in This autumn 2022. For full 2023, the provider’s web earnings amounted to 630.2 billion gained, down 4.9% year-on-year.

LG Uplus’ This autumn revenues amounted to three.82 trillion gained, up 5.8% in comparison with the identical interval in 2022, whereas annual revenues totaled 14.37 trillion gained, up 3.4% year-on-year.

In the meantime, the telco’s working revenue decline by 31.8% year-on-year to 195.5 billion gained within the fourth quarter. For full 2023, working revenue reached 998 billion gained, down 7.7% year-on-year.

LG Uplus additionally mentioned that gross sales from its wi-fi division reached 1.58 trillion gained within the fourth quarter, up 0.6% year-on-year.

Final 12 months, the federal government of South Korea successfully cancelled the spectrum licenses within the 28 GHz band that had been beforehand allotted to native operators for 5G deployments, as a result of lack of funding and missed rollout necessities.

By way of the choice native operators LG Uplus, SK Telecom and KT Corp. misplaced the fitting to make use of the 28 GHz frequencies they’d gained in a spectrum public sale in 2018.

The Ministry of Science and ICT famous that the choice was made as a result of native carriers didn’t deploy the 28 GHz radio stations that had been required as a part of the licensing.

The three operators had secured frequencies within the 3.5 GHz and 28 GHz bands in 2018, below the situation that they every deploy 22,500 and 15,000 radio stations for every spectrum band.

The federal government famous that telcos had fulfilled with the stipulated variety of radio stations for the three.5GHz spectrum however all failed to succeed in the deployment purpose for the 28GHz frequencies.


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