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Three telecom giants see positive Q1

Released at: 14:22, 05/05/2017

Three telecom giants see positive Q1

Photo: VnEconomy

Giants tell MIC meeting of handsome business performance in the opening quarter of the year.

by Ngoc Chi

Vietnam’s telecommunications giants Viettel, VNPT and MobiFone recorded positive revenue and profit results in the first four months of the year.

At a meeting with the Ministry of Information and Communication (MIC), Mr. Tran Manh Hung, Chairman of VNPT, said the group’s profit in the first four months reached 33.8 per cent of the plan and increased 15 per cent year-on-year.

Telecommunications revenue reached 32 per cent of the plan. All services bar two are growing, with fixed subscriber numbers down 91.3 per cent year-on-year and MyTV services down 98 per cent.

MobiFone, meanwhile, recorded revenue of VND3.3 trillion ($145.2 million) in April, bringing its four-month figure to VND12.6 trillion ($554.4 million).

The military-run mobile carrier Viettel recorded revenue in the first four months of VND76 trillion ($3.34 billion) and profit of VND14.2 trillion ($624.8 million).

The telecom giants are leading the way in the fourth industrial revolution. VNPT is promoting IT solutions such as VNPT-ioffice, VNPT-iGate, VNPT Portal, and a school management system (VnEdu). These solutions have already been widely used in many cities and provinces.

VNPT is deploying Smart City, having been selected as a partner in the smart city model in Ho Chi Minh City, Kien Giang, Lam Dong, Tien Giang, and Binh Duong provinces, and Phu Quoc Island.

Viettel recently launched its 4G network, expressing the group’s determination to become a leader in the revolution. According to Deputy General Director Hoang Son, it is the first network operator in the world to have 4G coverage nationwide.

The military-run mobile carrier is planning to expand its investments to Indonesia and Nigeria, two countries with the largest populations in the world, through Viettel Global, a subsidiary of the group.

The military-run mobile carrier currently has operations in nine overseas markets: Laos, Cambodia, East Timor, Cameroon, Haiti, Mozambique, Burundi, Peru, and Tanzania, with operations in Myanmar expected to begin in the first quarter of next year.

An inspection of MobiFone’s purchase of AVG shares has been completed but the results not yet released due to certain problems and the need to compare the results with other inspection units, Mr. Ngo Van Khanh, Deputy Chief Inspector, told the Government Inspectorate’s regular press conference for the first quarter on April 24.

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