SK Networks reported an operating loss of ₩22.3 billion ($16 million) for the third quarter, down 22% from a year earlier, as its appliance subsidiary SK Intellix absorbed costs related to new product launches. Revenue declined 3.4% to ₩1.97 trillion ($1.42 billion) during the period.
The operating loss stems largely from SK Intellix’s expenses tied to introducing Namoo X, its wellness robotics brand that officially launched in late October. However, the company’s pretax profit surged 149% due to reduced borrowing costs and lower interest expenses, suggesting underlying financial improvements despite the headline operating figure.
Individual business units showed mixed but generally positive performance. The telecommunications division benefited from stronger device sales and improved network management. Walkerhill, the company’s hotel operation, recorded higher revenue driven by increased guest rooms, food and beverage sales, and corporate clients. SK Speedmate’s maintenance and emergency roadside service businesses delivered improved profitability, while data solutions firm Encore returned to profit through operational efficiency and expanded solution and training services.
SK Networks acquired a 36% stake in media representation firm Incross from SK Square, aiming to combine the advertising company’s capabilities with its artificial intelligence expertise. PhnyX Lab, the company’s Silicon Valley-based AI unit, raised $4 million in August from investors including Cohere co-founder Aidan Gomez and NEAR Protocol co-founder Illia Polosukhin.
The company said it will accelerate AI-based business model innovation while strengthening competitive fundamentals across its portfolio divisions in the fourth quarter.
