Thursday, August 6, 2020 10:27:22 PM - Markets open
VN-INDEX 840.04 +2.24/+0.27%
HNX-INDEX 113.35 -0.67/-0.59%
UPCOM-INDEX 56.12 +0.06/+0.11%
Telecoms firms turning to digital content
Vietnam News - 2/22/2020 6:19:52 PM
 (0 ratings. You must sign in to rate.)
Telecommunications firms are turning towards developing their own digital content, the Việt Nam Telecommunications Authority (VNTA) under the Ministry of Information and Communications has said.
 
Mobile service revenue is mainly based on traditional telecommunication services, with revenue from voice calls and SMS messages accounting for 76.6 per cent. 
 
With tightened management over pre-activated SIM cards, the number of mobile phone subscriptions was 125.8 million last year, a year-on-year decrease of 3.5 per cent.
 
However, the number of broadband subscribers has increased significantly, with mobile broadband (3G, 4G) having 61.3 million subscriptions, accounting for 48.7 per cent of the total number of mobile subscriptions.
 
The total market share of the three largest enterprises, Vinaphone, MobiFone, and Viettel, accounted for more than 96.2 per cent last year, said VNTA.
 
Commenting on the telecommunications market, Huỳnh Quang Liêm, deputy general director of Vinaphone's VNPT said traditional telecommunications services were declining.
 
Specifically, the use of voice call services decreased by 18 per cent last year, while data service use tripled.
 
Deputy Minister of Information and Communications Phạm Hồng Hải said global trends would affect the country's telecommunications market such as the impact of the Internet of Things (IoT) and cross-border services.
 
Facing this situation, Vietnamese telecommunication enterprises have shifted to developing digital services.
 
For example, last year VNPT launched its digital transformation efforts with the 'VNPT 4.0' strategy.
 
Its digital services grew strongly, as the fintech service with the VNPT Pay application achieved a 60 times increase in cash flow.
 
Along with that, VNPT made a breakthrough in infrastructure investment for mobile networks, fixed broadband, information technology services and digital services.
 
Meanwhile, MobiFone has also digitised a lot of internal operations such as e-office, ERP (enterprise resource planning) software and infrastructure.
 
MobiFone said it would use modern technologies to automate its entire infrastructure as well as customer transaction points.
 
The country’s digital infrastructure and services have developed strongly since last year, said VNTA.
 
Revenue from data increased to about 30 per cent of total service revenue.
 
The cloud market has a turnover of about US$220 million with a growth rate of 40 per cent per year.
 
The Internet economy is estimated to have a size of $12 billion with a growth rate of 38 per cent annually.
 
To prepare infrastructure for the digital economy and digital society, and deploy national digital transformation, telecommunications businesses are focusing on promoting the development of important digital infrastructure this year.
 
First is building a cloud application programme for e-government.
 
For IoT infrastructure, companies are required to promote the deployment of IoT services on the national mobile telecommunications network to set a foundation for the development of smart agriculture, smart transport and smart cities.
 
Regarding e-financial infrastructure, VNTA will promote comprehensive finance and non-cash payment by guiding three telecommunications businesses to pilot mobile money services.
 
Deputy Minister Phạm Hồng Hải said the Ministry of Information and Communications would study and propose appropriate management methods to promote the sustainable development of the telecommunications market. — VNS
 
Read original article here
Newer News
04/08 EVFTA expected to contribute to EU recovery after coronavirus crisis
31/07 Retailers increase stocks to ensure supply in all circumstances
31/07 Some 13,200 firms established in July
30/07 Consumer price index up 0.4 per cent in July
23/07 GDP forecast to grow 3.8 percent this year
15/07 What VN needs to do to attract quality FDI after COVID-19
11/07 Conference looks at making full use of CPTPP
06/07 Vietnam needs professional investment environment
05/07 Pork and oil prices key to keeping inflation under control: experts
01/07 Administrative reforms would help unlock EVFTA's potential: EuroCham
Older News
20/02 Boosting structural reform and businesses’ competitiveness vital to grab CPTPP opportunities
13/02 VN’s GDP growth to reach 6.25 percent if COVID-19 outbreak is contained in Q1
08/02 VN acts to improve labour productivity
02/02 VN invests $3.97m abroad in January
30/01 CPI in January hits record high in recent 7 years
29/01 Pepper price to remain low this year
24/01 FDI inflow in Đà Nẵng hits nearly $700m in 2019
23/01 Japanese firms increase investments in advanced technologies in Việt Nam
19/01 Computer viruses causes $902 million in damage to Vietnamese users
19/01 Computer viruses causes $902 million in damage to Vietnamese users
 
Newsletter Signup
Top Stories
GDP forecast to grow 3.8 percent this year
New regulations about corporate bond issuance
Reference exchange rate remains unchanged
New traders flock to market
Reforms needed to attract foreign portfolio investment: fund manager
Market Update
Last updated at 3:09:59 PM
VN-INDEX 840.04 +2.24/+0.27%
Real-time chart
Top 5 Actives
Top 5 Gainers
Top 5 Losers
My Favorite Quotes
Your most recently viewed tickers will automatically show up here if you type a ticker in the Get Quotes box on the top of the page.
Company Research
Type in the symbol above for thorough background information, key statistics and financial information.
Stock Sectors
We continuously improve our services, here are the latest updates...
Portfolio
Allow you to monitor a customised group of securities. You can set up multiple Portfolios to help you better manage your investments.
Trigger Alerts
Get up-to-date alerts delivered directly to your email address.
Stock Screener
Allow you to filter the market and find exactly what sort of company you are looking for.
Live Terminal
Get instant access to FREE REAL-TIME streaming quotes for hundreds of stocks from HOSE, HNX and UPCOM exchanges.