Viettel brand value goes up 32 steps to $6 billion

February 24, 2021 | 18:00
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Viettel remains the highest-ranking telecommunications brand in the Southeast Asia region and the only Vietnamese brand in the Brand Finance Global 500 2021 Ranking.
viettel brand value goes up 32 steps to 6 billion
Viettel brand value increasing by year (unit: billion $)

Viettel has been valued at $6.016 billion (up 3.4 per cent on-year) in the Brand Finance Global 500 2021 Ranking. This is the only Vietnamese brand in the list, ranking 325th in the world, as well as the only Southeast Asian telecommunication brand in the ranking.

According to Brand Finance, there are 34 telecommunication brands in the top 500, however, most of their brands' value decreased at an average 2 per cent. Viettel did better than numerous well-known global brands like Nescafé (from Switzerland), Qualcomm (US), Spotify (Sweden), Lenovo (China), or Claro (Mexico).

Viettel's brand value has doubled since transforming from a telecommunication provider to a pioneer in building digital society in 2018. In early 2021, Viettel announced repositioning its brand by forming six key platforms of a digital society including digital infrastructure, digital solutions, digital content, digital finance, cybersecurity, and high-tech research and development, which contribute to boosting Viettel's brand value.

Additionally, the 2020 business performance of Viettel was quite good with VND264 trillion ($11.5 billion), up 4.4 per cent on-year, reaching 102.4 per cent of the yearly plan. The revenue of digital services increased by 27.7 per cent, doubling the average growth of the local IT industries (14.7 per cent). The company has also provided market-leading platforms for digital services, as well as for the government, ministries, and agencies.

What the stars mean:

★ Poor ★ ★ Promising ★★★ Good ★★★★ Very good ★★★★★ Exceptional