SK Telecom (NYSE: SKM) has reported lower profits due to increased marketing expenses and lower operating margins, reports Bloomberg. Net income fell by 38 percent to 279.3 billion won ($297 million), a figure analysts had expected to be 403.7 billion won, and sales rose 5.1 percent to 2.76 trillion won (US$2.95 billion). Operating profit fell 18 percent to 538.9 billion won (US$577 million) and marketing expenses rose by 52 percent to 635 billion won (US$679 million). The results indicate a company trying to fend off loss of market share, indicating fierce competition in the South Korean telecommunciations industry.
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