Mytel – Viettel’s brand in Myanmar becomes the third largest telecom provider in the country. (Photo courtesy of Viettel)

 
Hanoi (VNA)Viettel Group posted consolidated profit of 21.3 trillion VND (915 million USD) in the first half of the year, representing a 10.2 percent year-on-year increase and surpassing 24.7 percent of set targets.

It announced on July 19 positive business results for the first six months of the year despite fierce competition in the telecom market which is entering a saturation period.

Accordingly, its consolidated revenue reached 110 trillion VND, up 7.4 percent from the same period last year.

Revenue from local telecommunications saw a 2.9 percent rise from the corresponding period last year to reach 70 trillion VND. Its main momentum for growth was revenue for 4G services with data growth of 17.5 percent year-on-year.

In addition, the launch of a new data package with preferentials, double broadband to customers and implementing its largest customer care service Viettel to nearly 70 million users also contributed to the high growth.

Especially, Viettel had the largest number of customers registered for mobile number portability (MNP) services by the end of June this year, accounting for 53 percent of total demand in the market. The MNP service allows users to change networks but retain the same phone number.

On May 10, Viettel was the first telecom company in Vietnam to successfully test a 5G network.

Its total revenue from overseas markets reached 19 trillion VND, up 35.4 percent from the same period last year. Its profit from the markets met 452 percent of the year’s set target at 1.8 trillion VND.

The group’s Myanmar market which recently came into operation saw positive results as its brand – Mytel – became the third largest telecom provider in the country.

In the first half of the year, Viettel established three new corporations focusing on digital technology including Viettel Cyber Security, Viettel High Technology Industries Corporation and Viettel Digital Corporation. – VNA

VNA