SK Telecom (SKT) highlighted its significant investment in AI initiatives and the arrangement of major partnerships supported nearly 20 per cent growth in AI-related sales in 2024, but forecasts overall revenue to remain flat this year.

On an earnings call, CFO Kim Yang-seob explained it divides revenue into two categories following a restructuring in December 2024: telecoms and AI-related businesses, covering the AI transformation (AIX) unit; AI data centres (B2B areas); A dot, its personal assistant agent; and the global personal AI agent unit.

AIX revenue in 2024 grew 30 per cent year-on-year to KRW193 billion ($132.8 million) and AI data centre sales 13.1 per cent to KRW397.4 billion.

Kim added 2025 will be an important year when it has to demonstrate tangible results in its AI initiatives.

Net profit in Q4 2024 nearly doubled to KRW342.6 billion, aiding by a KRK297.1 billion equity gain related to subsidiaries, with consolidated revenue flat on KRW4.5 trillion.

Mobile service revenue was flat at KRW2.66 trillion and ARPU declined marginally to KRW29,495.

The operator added 1.4 million 5G subscribers to end 2024 with 16.9 million, representing 53 per cent of its mobile users base of 31.8 million, which rose 1.6 per cent.

Users of its A dot assistant grew from 3.2 million in 2023 to 8 million.

Sales in its B2B unit and other new divisions fell 3.6 per cent to KRW520 billion and revenue from subsidiary SK Broadband rose 3.8 per cent to KRW1.1 trillion.

Full-year capex dropped 12.7 per cent to KRW2.4 trillion.

It estimates consolidated revenue at KRW17.8 trillion for 2025, compared with KRW17.9 trillion in 2024.