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Military-run Viettel widens gap with VNPT & Mobifone

Released at: 18:59, 15/07/2017

Military-run Viettel widens gap with VNPT & Mobifone

Illustrative image (Source: techz.vn)

Telco continues to streak ahead of its local competitors, MIC meeting on July 14 hears.

by Quang Huy

Telecommunications giants Viettel, VNPT, and MobiFone recorded positive revenue and profit results in the first half of this year, with the military-run mobile carrier continuing to widen the gap between itself and VNPT and MobiFone.

Telecoms revenue (excluding Viettel’s businesses abroad) in the first half of the year rose 100 per cent year-on-year to VND213.35 trillion ($9.4 billion), equal to 47.4 per cent of the annual plan, according to a report from the Ministry of Information and Communications (MIC).

As at the end of June, the number of 2G and 3G subscribers were 68.8 million and 54.2 million, respectively. The number of wired broadband internet subscribers continues to surge, with more than 10.11 million in new subscribers. Export turnover from electronics, computers and components in the first half reached $7.59 billion, a 12.36 per cent increase year-on-year.

At an MIC meeting on July 14 to review the business results of communications companies, Mr. Tran Manh Hung, Chairman of VNPT, said the group’s profit during first half rose 15.5 per cent year-on-year to VND2.39 trillion ($105.3 million), while revenue rose 6 per cent year-on-year to VND68 trillion ($3 billion), or 47.3 per cent of the annual plan.

Almost all of the group’s services are growing, except MyTV and fixed subscriber numbers, which were equal to only 96.2 per cent and 89.8 per cent of the figures in the same period last year, respectively, according to Mr. Hung.

The military-run mobile carrier Viettel recorded revenue of VND117.1 trillion ($5.2 billion) in the first six months, equal to 48.7 per cent of the annual plan, with profit of VND21.47 trillion ($945.6 million). It also contributed nearly VND20 trillion ($881 million) to the State budget.

With more than 61 million domestic and more than 30 million international mobile subscribers, Viettel has built a comprehensive and modern infrastructure network with 350,000 km of fiber optical cable nationwide and five national and six international backbone lines. The first operator to launch 4G services in the country also has 25,000 2G stations, 35,000 3G stations, and 36,000 4G stations.

Viettel is planning to expand its investments to Indonesia and Nigeria, two countries with the largest populations in the world, through its subsidiary Viettel Global. It 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.

MobiFone, meanwhile, recorded revenue of VND21.3 trillion ($938.1 million) in the first half, an increase of 18.7 per cent year-on-year, with profit of VND2.6 trillion ($114.5 million). “Despite facing many difficulties, especially rising competition with other communications companies, MobiFone has maintained solid growth,” CEO Mr. Cao Duy Hai told the meeting.

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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