Welcome to our dedicated page for SK Telecom Co., Ltd. American Depositary Shares (Each representing 5/9th of a Ordinary Share of SK Telecom Co., LTD.) news (Ticker: SKM), a resource for investors and traders seeking the latest updates and insights on SK Telecom Co., Ltd. American Depositary Shares (Each representing 5/9th of a Ordinary Share of SK Telecom Co., LTD.) stock.
SK Telecom Co., Ltd. (NYSE: SKM) is South Korea's leading wireless telecommunications operator and a flagship company of the SK Group, one of the country's largest conglomerates. Founded in 1994 after acquiring KT's mobile business, SK Telecom has grown to dominate the South Korean market with 31 million mobile customers as of the most recent data.
SK Telecom operates across various segments including wireless telecom, broadband, and pay TV. As of Q4 2017, the company had 6.9 million broadband customers and 9.5 million pay TV subscribers. It owns SK Broadband, a major player in broadband internet and IPTV (Internet Protocol Television) services.
In recent years, SK Telecom has ventured into groundbreaking technologies and new business areas. In November 2021, it spun off its security, semiconductor memory production, and e-commerce units into a separate entity called SK Square, allowing it to focus more on its core telecommunications services and emerging tech sectors.
Highlights of SK Telecom's recent initiatives include:
- Collaborations with global companies like Deutsche Telekom to develop telco-specific large language models (LLMs) for AI applications.
- Significant advancements in AI-powered solutions, such as the AI-based call translator and spam indicator features for mobile users.
- Partnerships with tech companies for innovative projects like the AI-powered veterinary X-ray diagnosis assistance service, X Caliber, now launched in Australia.
- Efforts to make AI data centers more energy-efficient through collaborations with companies like Iceotope Technologies and SK Enmove.
SK Telecom continues to lead the market by expanding its AI capabilities and developing innovative services that go beyond traditional telecommunications. With a focus on AI, metaverse, cloud, and connected intelligence, SK Telecom aims to elevate customer experiences and create greater value for both individuals and businesses.
Penguin Solutions (PENG) has completed a strategic investment from SK Telecom (SKT), with SKT acquiring 200,000 convertible preferred shares at $1,000 per share, totaling $200 million. The preferred shares are convertible into ordinary shares at $32.80784 per share and carry a 6% annual dividend. The company plans to use the proceeds to enhance its AI factory offerings.
Following this investment, Min Yong Ha, SKT's Chief Development Officer, has joined Penguin Solutions' Board of Directors. The company has updated its fiscal year 2025 outlook, adjusting GAAP diluted earnings per share from $0.30 (±$0.20) to $0.10 (±$0.20), and Non-GAAP diluted earnings from $1.70 (±$0.20) to $1.50 (±$0.20).
SK Telecom (SKM) unveiled 'Aster(A*)', an AI-driven personal assistant, at the SK AI Summit 2024. Designed as an 'Agentic AI', Aster goes beyond basic Q&A by understanding user intentions to set goals and complete tasks. The service will launch a closed beta in North America in late 2024, followed by a full market launch in 2025.
Aster can assist with complex requests like party planning, offering step-by-step guidance and connecting users with relevant services. SK Telecom plans to enhance Aster's capabilities through partnerships with global search providers, LLM developers, and third-party applications to build a comprehensive AI ecosystem for North American users.
SK Telecom (NYSE: SKM) has signed agreements to supply its AI-based veterinary diagnosis assistant, 'X Caliber', to Malaysia, Thailand, and Vietnam. The company partnered with My Vet Care in Malaysia, Happy Pet Hospital in Thailand, and Vet Sky Holdings in Vietnam to introduce the service. X Caliber aims to enhance pet disease diagnosis and promote efficient pet diagnostics in these rapidly growing markets. The Southeast Asian pet market was estimated at USD 3.3 billion in 2023, with a compound annual growth rate of 13% over the past five years. SK Telecom's expansion into these markets demonstrates its commitment to innovating pet care and promoting South Korea's AI technology globally.
SMART Global Holdings (SGH) has announced a $200 million preferred equity investment from SK Telecom (SKT), an affiliate of SK Group. The investment aims to enhance SGH's capabilities in AI infrastructure solutions, particularly through its Penguin Solutions brand. Key points include:
1. SGH plans to use the capital to expand its end-to-end AI factory offerings.
2. SKT and SGH will collaborate on developing global AI factory and data center solutions, advanced memory products, and NPU-based AI edge servers.
3. Penguin Solutions currently manages over 75,000 GPUs, positioning it as a leader in AI infrastructure.
4. The investment terms include 200,000 preferred shares convertible to SGH ordinary shares at $32.81 per share, with a 6% annual dividend.
The deal is expected to close by the end of 2024, subject to customary closing conditions.
SK Telecom (NYSE:SKM) has launched its AI-powered veterinary diagnostic service, X Caliber, in Australia in collaboration with ATX Medical Solutions. X Caliber can analyze X-ray images of pets within 15 seconds and does not require local server installation. The service boasts a sensitivity of 86-94% across various types of X-rays. The launch follows successful beta tests and will be available to over 100 veterinary clinics in Australia. Additionally, SK Telecom has signed a commercial contract with MEDIVET Pet Hospital & Clinic in Indonesia to introduce X Caliber. SK Telecom is also providing beta services in North America, Europe, and Asia, aiming for a global market expansion.
On April 29, 2024, SK Telecom Co., filed its Annual Report on Form 20-F for the year ended December 31, 2023 with the U.S. Securities and Exchange Commission. The report can be viewed on SK Telecom's and SEC's websites. Printed copies are available upon request.
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