Addition of carbonaceous materials into transition metal sulfide counter electrode (CE) of a dye-sensitized solar cell (DSSC) is a common method to improve the performance of the CE and consequent photovoltaic performance. This improvement is almost without exception attributed to the improvement of overall conductivity after the carbonaceous material addition; however, the root function of these carbonaceous materials in promoting the solar cell efficiency is seldom discussed. In this study, highly crystallized nickel cobalt sulfide (NCS) micro-particles were mixed with a small portion of home-made reduced graphene oxide (rGO) nano-flakes. This NCS/rGO hybrid is subjected to extensive characterizations including X-ray diffraction, Raman spectroscopy, field emission scanning microscopy and electrochemical impedance spectroscopy. It is found that the rGO acts bi-functionally including a co-catalyst in accelerating the triiodide reduction for the main NCS catalysts, conductivity promotor to decrease the series resistance of the CE. Proved by electrochemical impedance spectroscopy, it is confirmed that the,decrease in series resistance is less insignificant than that in charge transfer resistance, indicating rGO functions more profoundly as a co-catalyst than as a conductivity promotor. Moreover, an argument to highlight the requirement of a CE in a dim-light optimized DSSC is also proposed. (C) 2016 Elsevier B.V. All rights reserved.