MobiFone 9M revenue exceeds USD1bn

28 Oct 2014

MobiFone, Vietnam’s second largest mobile operator by subscribers, generated revenue of VND26.03 trillion (USD1.2 billion) in the first nine months of 2014, while profit for the period totalled VND5.77 trillion, reports ICTnews, citing Deputy Minister of Information and Communications Le Nam Thang. MobiFone was separated from state-owned national PTO Vietnam Posts and Telecommunications (VNPT) in July and put under the management of the Ministry of Information and Communications (MIC), ahead of a sale of shares in the cellco scheduled for completion in 2015. As the owner of third-largest wireless provider Vinaphone, VNPT had been ordered to reorganise its operations under new legislation that states that a company or individual cannot hold over 20% of the shares in more than one telecoms operator. According to Le Nam Thang, VNPT’s turnover for the first three quarters of the year reached VND57.80 trillion and nine-month profit was VND1.93 trillion.