EyesVision Reports 895% YoY Increase in Operating Profit for First Half... 'Earnings Surprise'

KOSDAQ-listed company Eyesvision experienced significant growth in performance compared to last year, driven by an increase in MVNO subscribers in the first half of this year.

Eyesvision’s core business, the MVNO (Mobile Virtual Network Operator) sector, recorded an operating profit of 4.8 billion KRW in the first half of this year, a 895.33% increase from 500 million KRW in the same period last year. Revenue also surged by 88.3% to 23.8 billion KRW compared to the previous year. The subscriber base grew approximately 300% year-over-year by attracting about 120,000 online subscribers.

Additionally, on a consolidated basis, Eyesvision achieved an operating profit of 7.6 billion KRW in the first half of this year, marking a 58.93% increase from 4.8 billion KRW in the same period last year. Revenue also rose by 5.41% to 102.2 billion KRW compared to the previous year.

This growth is underpinned by the expansion of Eyesvision’s MVNO brand, ‘Eyesmobile.’

An Eyesvision representative stated, “Thanks to Eyesmobile’s unique convenient activation experience and efforts to enhance customer satisfaction services, we were able to achieve these results. We improved our online site to strengthen customer services, including a self-activation service that allows customers to activate their service directly and enhancements to the online customer center to resolve delays in ARS customer center connections.”

They added, “We are making our best efforts to exceed this year’s financial targets. In addition to our main product, the affordable rate plans, we will aggressively target the device market through the Motorola LTE walkie-talkie distribution business, the sale of certified used Apple devices verified by ‘Geumhwa (Bosangnara),’ and new device launches via SKT and LGU+ MNO dealership businesses.”

This content was produced with the assistance of AI translation services.