Viettel targets US$1.5 billion in revenue from overseas markets

Viettel has so far invested in Laos, Cambodia, Timor Leste, Cameroon, Haiti, Mozambique, Burundi, Peru and Tanzania.

At the end of the second quarter, overseas markets have brought about US$493.8 million, up 13% from last year but equal to just one third of the year target.

But a surge in revenues of Bitel, Viettel’s brand in Peru, a two-digit growth in African markets and the stable expansion in the remaining markets, plus the expected stronger growth in year-end months, justify the corporation’s confidence in meeting its target.

Bitel mobile network is launched in Peru. (Source: pqs.pe)

According to Tao Duc Thang, deputy general director of Viettel who is in charge of the Peru market, Bitel has recorded revenues of US$60 million in the first half of this year, double the figure for the entire 2015. Bitel’s subscribers are increasing at 41%, five-fold the average rate of Peru’s telecom sector.

Bitel hopes to achieve 3 million subscribers in 2016, double from 2015 figure.

Meanwhile, all African markets of Viettel posted positive growth with a subscriber growth of 21%, Le Dang Dung, deputy general director of Viettel, said.

Halotel, Viettel’s brand in Tanzania, reported two million subscribers after just nine months in operation while Nexttel in Cameroon, which was launched in September 2014, now has 2.5 million customers.

But it is Laos and Cambodia which are really “the geese that laid golden eggs” for Viettel among its nine overseas markets.

Unitel, Viettel’s brand in Laos, reached US$1 billion in accumulated revenue after seven years and aggregate profit has been over US$300 million .

Unitel now has more than 2.5 million customers and accounts for 47% of the mobile market and 35% of the broadband market in Laos.

According to the UK-based Brand Finance, Unitel is Southeast Asia’s most effective mobile brand in 2016 and its brand value increased 106% from 2015 to reach US$132 million, entering the top 30 most valuable brands in the region and the number one in Laos.

Meanwhile, Viettel’s Metfone brand in Cambodia is valued at US$94 million in 2016.

After seven years of operation, Metfone has now become the leading mobile service provider in Cambodia with 5.5 million customers, equal to 37% of the market share.

Metfone brought in US$256 million in revenue in 2015.