Mobile phone retailer continues to expand throughout Vietnam.
Vietnamese mobile phone retailer Mobile World (MWG) now has 350 thegioididong.com and dienmay.com stores nationwide.
In December alone, ten new thegioididong.com stores and three new dienmay.com stores were opened around the country, bringing the total to 330 and 20, respectively. In Ho Chi Minh City, four thegioididong.com stores were opened in Nguyen Chi Thanh and Tran Hung Dao in District 5, To Hien Thanh in District 10, and Phan Dang Luu in Phu Nhuan district.
In the Mekong Delta, two dienmay.com stores opened for business in Sa Dec city in Dong Thap province and Bac Lieu city in Bac Lieu province. In the southern region, a new dienmany.com store was opened in Long Khanh town in Dong Nai province in October, while in the north the number of thegioididong.com stores now totals 45 and in the central region 55.
After achieving its full-year profit target within the first nine months, the company reported after-tax profits of VND609 billion ($28.3 million) for the first eleven months on revenues of VND14.06 trillion ($653 million). Revenue in November alone was VND1.62 trillion ($75.3 million). Revenue from online business in the first eleven months was VND852 billion ($39.6 million), an increase of 70 per cent compared to the same period last year.
Mr. Nguyen Duc Tai, MWG’s Chairman and CEO, told media recently that thegioididong.com has a market share of 28-30 per cent and its expansion plans will end once this reaches 40 per cent. The company plans to focus on developing its consumer electronics chain dienmay.com next year and targets market leadership with a share of 8-10 per cent.