Tuesday, 20 Nov 2018
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ECONOMY

Vietnam telecom revenue exceeds US$7.8 billion in 6 months

Updated at Tuesday, 10 Jul 2018, 15:34
The Hanoitimes - As of July, there were some 124 million phone subscribers in Vietnam, informed the Ministry of Information and Communications (MIC).
Vietnam's telecom market posted revenue of over VND180 trillion (US$7.8 billion) in the first six months of 2018, equivalent to 49.18% of the year target, according to the MIC. 
 
Illustration photo.
Illustration photo.
The country's telecommunication industry contributed VND23.5 trillion (US$1 billion) to the state budget, or 51.35% of the target amount in the period, stated the MIC's report. 

As of July, there were some 124 million phone subscribers, down 0.02% year-on-year. Of the total, the number of 3G and 4G users increased by 29.2%, while landline subscribers were over 5 million. 

Vietnam currently has 30,000 IT companies and four IT industrial parks, generating revenue of VND1,026 trillion (US$43.4 billion) in the January - June period, up 16.15% year-on-year. 

Of which, revenue from the hardware industry was VND912.8 trillion (US$39.5 billion), contributing VND20 trillion (US$865.8 million) to the state budget. 

Vietnam's information and communications technology (ICT) exports reached VND918.3 trillion (US$39.7 billion) in the first six months, up 16.21% year-on-year, in which hardware exports reached VND884.1 trillion (US$38.2 billion) and software exports of VND34.2 trillion (US$1.48 billion), the report added.

Additionally, hardware imports stood at VND576.8 trillion (US$24.9 billion) during this period.

Revenue of Vietnam Posts and Telecommunications Group (VNPT), one of the three major Vietnamese telecoms groups, increased in the first six months by 15% year-on-year, and equivalent to 51.6% of the plan, said Tran Manh Hung, chairman of the group. 

VNPT set revenue and pre-tax profit targets of VND43 trillion (US$1.86 billion) in VND1.4 trillion (US$60.6 million) in 2018, up 6.7% year-on-year. 

Military-run Viettel Group posted revenue and profit in the first six months in equivalent of 49.3% and 50% the year plan, respectively, according to Tao Duc Thang, vice general director of the group.

Viettel is expected to reach revenue of VND277 trillion (US$12 billion), up 10.5% year-on-year and profit of VND45.5 trillion (US$1.97 billion), up 3.2% year-on-year. 

In 2018, Mobifone set revenue target of VND42.3 trillion (US$1.86 billion), up 5.9% compared to that of in 2017, while its pre-tax profit is estimated at VND6.1 trillion (US$269 million), up 8.2%. 
Ngoc Thuy
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