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KT Swiftly Grows Subscribers Base for One of the First 5G Commercial Services Globally, with Amdocs' Service Monetization Solution
Globe Newswire 14-May-2019 4:05 PM
ST. LOUIS, May 14, 2019 (GLOBE NEWSWIRE) -- Amdocs (NASDAQ:DOX), a leading provider of software and services to communications and media companies, today announced that KT Corporation, the largest quad-play service provider in South Korea, is using Amdocs' Service Monetization and Convergent Charging solution for one of the world's first 5G commercial services, launched recently. The future-ready Amdocs Service Monetization solution was initially deployed to support KT 4G services and is now supporting KT 5G services. As a result, KT is able to launch and monetize new and innovative services faster, accelerating the adoption and growth of 5G services.
With the successful launch of one of the world's first 5G services, KT is able to offer faster communication services with low latency to both enterprises and consumers. This will drive adoption of innovative use cases around new verticals such as connected cars, IoT, e-health, robotics, gaming and much more. Amdocs' Monetization solution leverages convergent charging capabilities including distributed architecture to accelerate monetization of these new services — from creation of novel offers to streamlined charging for both consumers and enterprises.
"The future is here and live, with KT becoming one of the pioneers in 5G commercialization with faster data rates and an array of compelling services that lead the market," said Anthony Goonetilleke, group president of Media, Network and Technology, Amdocs. "With 5G supporting new types of services such as e-sports streaming, high-speed online gaming, and augmented and virtual reality services and apps, service providers need to quickly develop new use cases, launch and monetize them to attract consumers by delivering an experience which is unprecedented. We are moving into a time where the monetization and service relationship for service providers is demanding greater flexibility in payment mechanisms, bundling, loyalty, third-party packaging, advertising and other innovative customer engagement initiatives."
About Amdocs
Amdocs is a leading software and services provider to communications and media companies of all sizes, accelerating the industry's dynamic and continuous digital transformation. With a rich set of innovative solutions, long-term business relationships with 350 communications and media providers, and technology and distribution ties to 600 content creators, Amdocs delivers business improvements to drive growth. Amdocs and its 25,000 employees serve customers in over 85 countries. Listed on the NASDAQ Global Select Market, Amdocs had revenue of $4.0 billion in fiscal 2018. For more information, visit Amdocs at www.amdocs.com.
Amdocs' Forward-Looking Statement
This press release includes information that constitutes forward-looking statements made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995, including statements about Amdocs' growth and business results in future quarters. Although we believe the expectations reflected in such forward-looking statements are based upon reasonable assumptions, we can give no assurance that our expectations will be obtained or that any deviations will not be material. Such statements involve risks and uncertainties that may cause future results to differ from those anticipated. These risks include, but are not limited to, the effects of general economic conditions, Amdocs' ability to grow in the business markets that it serves, Amdocs' ability to successfully integrate acquired businesses, adverse effects of market competition, rapid technological shifts that may render the Company's products and services obsolete, potential loss of a major customer, our ability to develop long-term relationships with our customers, and risks associated with operating businesses in the international market. Amdocs may elect to update these forward-looking statements at some point in the future; however, the Company specifically disclaims any obligation to do so. These and other risks are discussed at greater length in the Company's filings with the Securities and Exchange Commission, including in our Annual Report on Form 20-F for the fiscal year ended September 30, 2018 filed on December 10, 2018 and our quarterly 6-K form furnished on February 19, 2019.
