No. 68

LG Telecom

Country: Korea
Revenue (Millions): 3,935
Revenue Growth: 5%
Return on Equity: 14%
Shareholder Return: 3%

LG Telecom is proof that business success doesn't always require investment in the latest technology. The smallest of South Korea's three mobile-phone operators has successfully carved out a niche serving young users who can't do away with Internet connectivity while on the go. Instead of pouring billions into the latest 3G wireless technology, the company opted to keep upgrading existing networks that use CDMA EVDO technology and instead offered cheap, full-Internet browsing services as a way to survive harsh competition. Despite the economic recession, its first-quarter net profit jumped 52%, to $93 million, although revenue remained flat.

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