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Kakao’s narrows Q4 losses, plans AI service with OpenAI
Kakao Corp, the South Korean company behind mobile messenger KakaoTalk, reported reduced fourth-quarter losses due to lower asset impairments in its content divisions.
The company posted a net loss of 276.9 billion won (US$190.1 million), down from 1.91 trillion won (US$1.3 trillion) a year earlier, while operating profit fell 33.7% to 106.7 billion won (US$73 million).
Kakao attributed the lower net loss to reduced asset impairments from past content acquisitions.
Platform business revenue grew 10% year-on-year to 1 trillion won, driven by KakaoTalk, while content revenue fell 13% to 910.1 billion won (US$630 million) due to weaker gaming, music streaming, and webtoon sales.
Kakao plans to launch Kanana, an AI service developed with OpenAI, later this year.
Recent Kakao developments
| Timeline |
|---|
04-Feb-2025 🤖 Kakao partners with OpenAI to integrate AI into messaging
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17-Dec-2024 💰 Kakao Mobility fined $10.5m for unfair taxi practices
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08-Nov-2024 📈 Kakao grows profit amid declining sales
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03-Oct-2024 🚖 Kakao Mobility fined $54.8m for antitrust violation
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| 13-Dec-2023 🚀 Kakao names new CEO to lead firm amid turbulent time |
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