KT sees Q3 profit drop 6.4%
Summary
KT saw growth in remote services, but its subsidiaries in more traditional industries contracted from the impact of the COVID-19 pandemic. The telco said it also saw demand continue for IT services such as cloud and data centre from enterprises due to the acceleration of digital transformation in light of the pandemic. However, it saw its credit card subsidiary BC Card and real estate service firm KT Estate perform lower due to decreased demand as a result of the virus, KT said. The telco said it will aim for a turnaround in the fourth quarter with the recent launch of the iPhone 12 to increase 5G subscribers. • SK Telecom and LG Uplus both see double-digit profit jumps in Q3 • Samsung updates Galaxy Fold with App Pair, DeX improvements, and more Z Fold 2 features • Australian and Korean researchers warn of loopholes in AI security systems