Telecommunications & Media

Korea\'s three mobile carriers post mixed Q1 results, bet on AI growth after hacking fallout

South Korea\'s three mobile carriers reported mixed first-quarter results. LG Uplus improved performance on balanced growth across businesses, including AI data centres. SK Telecom showed a clearer recovery from the previous quarter, citing improved AI profitability and a rebound in its wireless business after a SIM hacking incident. KT\'s profitability weakened despite expanding AX, as a one-off property-sale base effect and customer compensation costs weighed.

Industry

K battery makers see end of chasm tunnel, profitability within reach in Q2

South Korea\'s three major battery makers posted weak first-quarter results. LG Energy Solution and Samsung SDI swung to operating losses, and SK On is also expected to remain in the red. Brokerages see the first quarter as a cyclical trough and expect a shift to profitability from the second quarter as energy storage system sales ramp up and electric-vehicle demand recovers. Key variables include the pace of ESS revenue recognition and normalization of North American production.