VNPT - VinaPhone expects 4G service will help it become the second largest network provider this year. — Photo pcworld.com.vn

HA NOI (Biz Hub) — The Viet Nam Post and Telecommunications Group (VNPT) earned an estimated VND63.15 trillion (US$2.8 billion) in revenue and VND2.16 trillion in profit in the first half of this year, achieving 50.6 per cent of the yearly target.

The revenue also registered a 121.1 per cent year-on-year increase.

In a press release issued on July 18, VNPT said mobile network operator VNPT-VinaPhone, one of the firm's key arms, maintained a good growth rate by adding 6.5 million subscribers in these six months.

The network operator is estimated to have earned VND25.4 trillion in the first half of this year, making a profit of VND569 billion, equal to 51.76 per cent of the yearly target.

Meanwhile, VNPT-Media, established last year, earned more than VND532 billion in revenue and VND53 billion in profit.

Speaking to local media on the occasion of the 20th anniversary of the establishment and development of VNPT last month, Deputy Director Luong Manh Hoang said the firm aimed to claim 33 per cent of the market share, being the second largest service provider in the Vietnamese telecommunication market this year.

Vinaphone said it currently had nearly 20 per cent of the market share and was the third largest service provider in the market.

The top two network providers are Mobifone and Viettel.

Hoang said VinaPhone had invested heavily in infrastructure to supply wide bandwidth for 4G services to meet the customers' demand.

"When the 4G service is licensed, it will be a good opportunity for us to change our ranking and shorten the gap with the number one rival in the market," Hoang said.

The information and communications ministry is scheduled to grant a 4G  licence in the second half of this year. VinaPhone, Mobifone and Viettel had piloted a 4G service under the approval of the ministry. — VNS