Vietnam’s state-owned VNPT predicted its profit will increase 15 per cent in 2017 after posting 20 per cent growth in 2016.
The operator’s profit reached VND4.4 trillion ($193 million) in 2016, Vietnam News Service reported. VNPT expects revenue to increase 8 per cent this year.
VNPT’s mobile unit Vinaphone added nearly one million connections through 2016, taking its total to 19 million and giving it a 15 per cent market share. It is the country’s third largest operator behind Viettel (41 per cent share), and Mobifone (37 per cent).
The vast majority of Vinaphone’s 2016 net additions were 3G users, which account for 46 per cent of total connections according to GSMA Intelligence. Its 2G user base peaked at nearly 20 million in Q2 2013.
Vinaphone launched 4G services on Phu Quoc Island, becoming the first operator in the country to offer commercial LTE service.