SK Telecom reported a net profit of KRW176 billion (US$161 million) for the third quarter of 2012, down 54.2 percent from KRW384 billion year-on-year, on revenue of KRW4.13 trillion, up 2 percent from KRW4.05 trillion. It attributed revenue growth to higher ARPU, driven by its LTE subscriber increases, and a strong performance at its SK Planet business, while noting an increased investment in LTE networks and temporary increase in LTE marketing expenses. The operator said it has secured over 6 million LTE subscribers as of end-October and expects to achieve its year-end target of 7 million.