Viettel boosts foreign market expansion

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"The domestic mobile phone market has become saturated” said, the group’s Research and Production Department Head Luu Quang Truong.

“Therefore, the group has devised a bold business plan that targets expansion in foreign markets both in investment and sales.” he added.

Viettel is invested heavily in markets such as Laos, Cambodia, Mozambique and Haiti, Truong said, and these markets accounted for 60% of last year’s total sales, largely attributable to well developed in-depth nationwide distribution channels.

These distribution channels give out us a competitive edge and an advantage in delivering our products to customers, he continued. Viettel aims to expand investment to many nations.

In the future, Viettel is eyeing investment in the telecoms sector in markets such as Peru, East Timor, Tanzania, Cameroon, and Burundi that have a potential combined market of roughly 70 million customers.

Truong postulates that these are huge markets where sales of its terminal equipment will explode.

The most significant problem facing the group is increasing its localization rate.

The group’s rate currently remains low and it is dependent on importing key components which add significant costs.

By increasing the localization rate the group will be better able to control the overall quality of its products at a more economical price, bringing more value to the customer and concurrently providing an economic boost to the nation.

Viettel’s telephone products are becoming ever-increasingly more popular in foreign markets, especially some smart phones such as the V8404, 8403, i67 models which sell for an average price of VND900,000 -VND1,400,000.

These are “Made by Viettel” and “Made in Vietnam” products which are designed by the group and manufactured on its modern production line, Truong concluded.