SK ICT Affiliates Strengthen Cooperation with Qualcomm
On January 6, 2022, SK Telecom (NYSE:SKM) executives, including CEO Ryu Young-sang, met with Qualcomm's CEO Cristiano Amon at CES 2022 to discuss strategic collaboration in ICT, focusing on semiconductors and 5G technologies.
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Rhea-AI Summary
On January 6, 2022, SK Telecom (NYSE:SKM) executives, including CEO Ryu Young-sang, met with Qualcomm's CEO Cristiano Amon at CES 2022 to discuss strategic collaboration in ICT, focusing on semiconductors and 5G technologies. The discussions emphasized partnerships in developing data center applications and high-speed memory solutions. Park Jung-ho, CEO of SK Square, highlighted the necessity of cooperation amid intense global competition. SK Telecom holds a leading position in the Korean market, with 30 million subscribers, nearly half of the total market share.
Positive
- Collaboration with Qualcomm to enhance 5G and semiconductor technologies.
- Strengthening of SK Telecom's position in the global ICT market.
- Leading market share in Korea with over 30 million subscribers.
Negative
- None.
Details
News Market Reaction – SKM
The recorded move for SKM in the trading session of this news was -2.67%.
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AI-generated analysis. How Rhea-AI works. Not financial advice.
LAS VEGAS, Jan. 6, 2022 /PRNewswire/ -- SK Telecom (NYSE:SKM, hereinafter referred to as "SKT") today announced that Park Jung-ho, Vice Chairman and CEO of SK Square and SK hynix, held a meeting with Cristiano Amon, President and CEO of Qualcomm Incorporated, at CES 2022 to discuss cooperation in the field of ICT.
At the meeting, which was also joined by Ryu Young-sang, CEO of SK Telecom, and Lee Seok-Hee, CEO of SK hynix, the executives discussed cooperation in areas such as semiconductor and 5G.
SK hynix, the world's second largest memory chipmaker, and Qualcomm, the world's leading wireless technology innovator held talks regarding collaboration on the development of data center applications and high-speed memory for PCs.
SKT and Qualcomm discussed cooperation in 5G business areas including metaverse and smart factory.
"With competition intensifying in the global ICT market, cooperation is no longer a matter of choice but an absolute necessity," said Park Jung-ho, Vice Chairman and CEO of SK Square and SK hynix. "All ICT affiliate companies of SK will lead innovations by pursuing cooperation that goes beyond all national borders and industries."
About SK Telecom
SK Telecom (NYSE:SKM) is Korea's leading ICT company, driving innovations in fixed & wireless telecommunications, AI service, and digital infrastructure service. Armed with cutting-edge ICT including AI and 5G, the company is ushering in a new level of convergence to deliver unprecedented value to customers. As the global 5G pioneer, SKT is committed to realizing the full potential of 5G through ground-breaking services that can improve people's lives, transform businesses, and lead to a better society.
SKT boasts unrivaled leadership in the Korean mobile market with over 30 million subscribers, which account for nearly 50 percent of the market.
For more information, please contact skt_press@sk.com or visit our LinkedIn page www.linkedin.com/company/sk-telecom.
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SOURCE SK Telecom
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