'Cancellation of 4th Telecom Selection' StageFive Turns Profitable in Q3

Operating Profit of 180 Million KRW in Q3... Sales of 5.1 Billion KRW
First Quarterly Profit Despite Cancellation of 4th Telecom Selection

StageFive, whose selection as the 4th mobile carrier was canceled, announced on the 16th that it turned a profit with an operating income of 180 million KRW in the third quarter. This marks StageFive's first quarterly profit.

Quarterly sales amounted to 5.1 billion KRW, with cumulative sales reaching 24.3 billion KRW.

Seo Sang-won, CEO of StageX, attended the 'StageX Media Day' held on the 7th at Fairmont Ambassador Seoul in Yeouido, Seoul. After introducing the 28GHz communication business strategy, he is answering questions from the press. Photo by Kang Jin-hyung aymsdream@

StageFive stated, "We turned a profit thanks to an increase in subscribers for our main businesses, the MVNO (Mobile Virtual Network Operator) service and global roaming service, as well as a reduction in common expenses through cost efficiency," adding, "The rapid strategic shift to normalize management following the government's final cancellation of frequency allocation at the end of July was effective."

The MVNO business, which provides all processes such as subscription, activation, and inquiry online, is expected to surpass 100,000 subscribers by the end of this month.

According to the company, in the MVNO business, they recorded the second highest market share in subscriber MNP (Mobile Number Portability) based on the KT network, thanks to their proprietary billing system, AI-based customer center, and interconnection with the three major telecom networks.

The data roaming business offers a "completely unlimited data product" and a subscription service called "Roaming Pass," which allows unlimited roaming usage for one year at half price for 9,900 KRW.

Through cooperation in sales channels with their own Findairect app service and leading travel platforms such as Yanolja and Interpark Triple, the cumulative number of subscribers is expected to exceed one million within this year.

Seo Sang-won, CEO of StageFive, said, "Although the 4th mobile carrier selection was canceled, during the preparation process, we secured the latest mobile communication technologies such as cloud-based core networks and have been considering services and plans that enhance customer convenience," adding, "Based on this, we plan to focus our capabilities on advancing the full MVNO business."