Vietnamese state-owned operator VNPT's revamped VNPT VinaPhone division is launching today, and aims to pick up a 30% share of the mobile services market.
VNPT Vinaphone, a wholly-owned subsidiary of VNPT, is also targeting an 80% share of the bandwidth services market, Viet Nam Newsreported.
It will focus on businesses including telecom and IT services, multi-media, television and radio broadcasting services and consulting and design work for telecom equipment and subsidiaries.
The company aims to earn a total revenue of 26 trillion dong ($1.19 billion) and pre-tax profit of 3.3 trillion dong by 2020. This would mark an average annual growth rate of 49%.
To achieve these growth ambitions VNPT VinaPhone plans to learn from its competitors as well as domestic and foreign partners with significant experience in the Vietnamese market, according to VNPT VinaPhone general director Luong Manh Hai.
VNPT Vinaphone was created through the merger of VNPT subsidiaries including VinaPhone, Vietnam Data Communication Company (VDC) and Vietnam Telecom National Company (VTN).
The merger was part of a wider restructuring of VNPT that also involved the establishment of two other subsidiary corporations, VNPT Media and the infrastructure-focused VNPT Net.