Business News 24/01/2024, 10:23

Viettel achieved total revenue of $7 billion in 2023

According to information released by the Military Industry and Telecoms Group (Viettel) on January 12, the company's consolidated revenue for the year 2023 reached 172.5 trillion VND, equivalent to over 7 billion USD.

Viettel achieved total revenue of $7 billion in 2023

Therefore, Viettel's average daily revenue reached over 470 billion VND. Compared to 2022, the group's consolidated revenue increased by 5.4%.

However, Viettel has not provided information about its profit for the year 2023. In 2022, the group achieved its highest profit in five years, with a pre-tax profit of over 43.5 trillion VND.

In the mobile telecommunications sector, Viettel maintains its leading position with over 56% market share. The company has deployed nearly 500 5G stations nationwide for testing. Additionally, Viettel also leads in internet connection service (FTTH) with a 43% market share and multi-platform television with over 31% market share.

Viettel's international revenue has grown by more than 20%, and its telecommunication brands are leading in six markets, including Haiti, Cambodia, Laos, Myanmar, East Timor, and Burundi.

In the past year, Viettel has also completed extensive research, production, and testing of a 5G product ecosystem, including both hardware and software. The group successfully developed the 5G DFE chip, the most complex component of the 5G ecosystem, with a computing capability of up to 1 trillion calculations per second.

For the year 2024, Viettel aims to achieve a 7.2% increase in its consolidated revenue, as well as to continue improving the efficiency of foreign investments with a return on investment rate of 84%. The group also plans to transition all 2G subscribers to 4G by September 2024 and has set a goal to implement a rail transport route between Vietnam and China.

VnExpress / Translator: Hoàng Giang

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