A customer makes enquiries at a MobiFone shop in Ha Noi. MobiFone's total revenue is estimated to reach VND27.2 trillion (US$1.2 billion) from January to September. — VNS Photo Truong Vi

The proposal was made by Bui Son Nam, head of Mobifone's Business Department, during the company's Q3 business performance review meeting held this week in Ha Noi.

At the meeting, Le Nam Tra, chairman of the Mobifone, said that by September this year, Mobifone accounted for a market share of 26.11 per cent or a year-on year growth of 1.6 per cent. The number of new subscribers reached 11 million with a year-on-year increase of 94.7 per cent.

In the first nine months, the company's total revenue is estimated to reach VND27.2 trillion (US$1.2 billion) , bringing a profit of VND5.67 trillion ($252.7 million).

According to Tra, in the fifth quarter, Mobifone will strive to complete 100 per cent of its yearly plan with revenues of VND36.4 trillion ($1.63 billion), bringing a profit of VND7.3 trillion ($328.2 million).

Tra emphasised that in the fourth quarter, the company would face more challenges. Therefore, it needed to continue implementing assigned missions such as equitisation, investment and business development.

To carry out these missions, the company would enhance its investment to extend coverage network and focus on investing in new technology and key markets.

Speaking at the meeting, Deputy Minister of the Ministry of Information and Communications Pham Hong Hai hailed the company's fast subscriber development, revenue and profit in the third quarter.

The deputy minister asked the company to spur the development of large-scale projects such as 4G-LTE noting that the company needs to study carefully and outline specific plan for the development of 4G-LTE and its business performance.

He also warned that the company should strictly control pre-paid subscribers and be ready to implement a pilot programme on mobile number portability that allows user to keep his/her existing mobile telephone number when switching to another network from December this year.

By the end of this October, the company is expected to submit to the ministry its plan to review and consider the next step of its equitisation process.

In addition, the company already finished withdrawing its capital from non-core businesses in NEO and Smart Media. It is now implementing to withdraw capital from TPBank and SeaBank.

MobiFone's operator was rechristened the MobiFone Telecommunications Corporation from the Viet Nam Mobile Telecom Services Company last December, after the firm was separated from the VNPT and was placed under the supervision of the Ministry of Information and Communication last year.

MobiFone to open first equipment shop

MobiFone Telecommuni-cations Corporation (MobiFone) will launch its first terminal equipment retail shop in HCM City on October 19, marking its move from a mobile network provider to a multi-service corporation.

The information was released at a conference to review the corporation's third quarter performance on October 13. After the shop opens in HCM City, MobiFone will quickly develop its chain in other cities and provinces, including Ha Noi and southern Dong Nai Province.

With this move, MobiFone will become the third mobile network provider to jump into the market for retail sales and distribution of terminal equipment, following VNPT and Viettel, which joined the terminal equipment retail market several years ago and currently have 228 mobile and equipment supermarkets in the country between them.

Cao Duy Hai, General Director of MobiFone, said his firm's strategy for the future was focused on expanding the business to other fields, including retail, television and multimedia.

Opening and operating the first store in the retail chain was the first step of the strategy, Hai said.

The corporation was established in 2014. — VNS