Boston, MA 06/18/2014 (wallstreetpr) – If you know SK Telecom Co., Ltd. (ADR) (NYSE:SKM) as a provider of wireless communications, chances are that you don’t know what the company is up to these days.
The company is working alongside Nokia Corporation (ADR) (NYSE:NOK) to change the way people download stuff on their mobile devices. Forget what you’ve known about LTE network speeds, something bigger and better is in the offing, and that is 5G technology.
The companies recently demonstrated a mobile broadband speed of 3.78 gigabits per second, a speed fast enough to download a 5GB high-definition movie in 11 seconds. As if that is not enough, the companies promised to continue their cooperation to develop new technologies. The end game in the collaborations is to help SK Telecom Co., Ltd. (ADR) (NYSE:SKM) provide the world’s best data speeds to its customers.
From the U.S. to Europe and Asia, telecom carriers are on each other’s neck with new technologies to attract more subscribers to their side in the quest for bigger revenue in the industry. With superior network speed, SK Telecom hopes to not only expand its market share in the South Korea wireless market, but also increase its revenue because customers have demonstrated their wiliness to pay extra for the best network speeds.
SK Telecom presently boasts 27 million subscribers in the South Korean wireless market, which gives it more than 50 percent stake in the market.
Nokia charging furiously
Nokia (NYSE:NOK) claimed that the tested 3.78 gigabits-per-second network speed is 400 times faster than the 4G options available with major carriers in India. Of course, that milestone suggests that the company is not letting any opportunity slip through its fingers now that it is looking for revenue and profit growth from all corners after selling its handsets business. The company sold its devices and services operations to Microsoft Corporation (NASDAQ:MSFT) for about $7.5 billion.
Nothing but the best
In order to increase its revenue amid the widespread adoption of data guzzling smartphones, SK Telecom Co., Ltd. (ADR) (NYSE:SKM) understands that its chances lie with offering not only stable network connections but also the best speeds.
