Here is the first MobiFone terminal equipment retail shop in Viet Nam. — Photo doisongphapluat.vn

HA NOI (Biz Hub) — MobiFone Telecommunications 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 is the first step of the strategy, Hai said.

The corporation was established in 2014. In the first nine months of this year, the firm earned VND27.27 trillion (US$ 1.21 billion) in revenue and an estimated profit of VND5.67 trillion ($253.5 million) , reaching 77.67 per cent of its target.—VNS