Viettel’s joint venture crosses $1 billion revenue threshold
Viettel’s joint venture crosses $1 billion revenue threshold
As of August 2016, Unitel, a joint venture of Viettel Global Joint Stock Company (a subsidiary of Viettel) and Lao Asia Telecom from Laos, reached $1 billion and $300 million in cumulative revenue and profit, respectively, since starting operation in September 2009, according to newswire Baochinhphu.
Unitel is currently the largest telecommunications network operator in Laos. It currently makes up 47 per cent of the mobile phone and 35 per cent of the broadband market in Laos, with 2.5 million customers.
With a network of 4,000 base transceiver stations (BTS) and 23,000 kilometres of fibre-optic cable across Laos, the company brings telecom services to 95 per cent of the population in every nook and cranny of Laos. In addition, the company has started providing 4G services since June last year.
Unitel has contributed significantly to shaping the telecommunications market, boosting mobile use from 18 per cent in 2009 to 68 per cent in 2016. In addition, it generates 4,000 jobs for locals.
According to an evaluation published in April by Brand Finance, an independent intangible asset valuation consultancy based in the United Kingdom, Unitel is the most effective telecommunications brand in the ASEAN. Its brand value increased by 106 per cent compared to 2015, to the current $132 million.
As of mid-September 2016, Viettel’s customer base in its nine foreign markets reached 26 million, increasing its total subscribers, including customers in Vietnam, to 90 million.
Regarding Viettel’s business results, in the first half of this year the company earned $493.8 million in revenue from its foreign markets, up 13 per cent on-year.
