Hong Kong's Tevo forms strategic partnership with MobiFone Global

Tevo is an emerging AI applications and services startup based in Hong Kong. Under the partnership, both parties will jointly launch Dramini, the latest short drama app to be introduced to international markets.

“Tevo and MobiFone Global are both prestigious brands in their fields. We have entered a strategic partnership to export technology products to global markets as well as to introduce international premium digital services into Vietnam," said Van Vu, CEO of MobiFone Global.

“This partnership with MobiFone Global marks a pivotal step for Tevo Global as we work together to deliver world-class digital products and bring Vietnamese technology to international markets. At the same time, we are also progressing with a pre-series A funding round with several leading Asian funds, which will further accelerate our growth, global reach, and AI initiatives," said Thanh Luu, CEO and founder of Tevo Global.

The global mobile app market generated $522.67 billion dollars in total annual revenue in 2024, according to market research by Statista. Advertising contributes nearly two-thirds of all app revenue, at more than $344 billion. The app categories that generate the most revenue are gaming apps and social networking apps, both with more than $150 billion annual revenue.

Tevo’s 2030 vision is to become the leading company in AI apps and services and among the top five largest companies in the mobile apps and games industry from Southeast Asia.

MobiFone Global Technology JSC (MobiFone Global) was established in 2007 as a subsidiary of MobiFone Telecommunications Corporation, one of the top three largest telcos in Vietnam. Since its establishment, MobiFone Global has grown significantly in both domestic and international markets. Overseas, MobiFone Global has established subsidiaries in the US, Singapore, and Hong Kong.

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MobiFone on the way to becoming a major tech company At VIR's conference on digital economy development in Hanoi on September 30, Nguyen Tuan Huy, head of Digital Transformation at MobiFone, stated the goal of digital transformation is to enhance business performance, increase labour productivity and work efficiency, and improve customer service quality.

Japan's Rakuten Symphony to trial 4G and 5G Open RAN mobile networks in Vietnam Japan-based Rakuten Symphony inked an MoU with MobiFone Corporation on June 4 to collaborate on a pilot project to deploy 4G and 5G Open RAN networks in Vietnam.