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Viettel makes profit worth ₫ 264 tn in 2020

The company recorded a 25 percent surge to ₫ 5.6 trillion in profits in its 10 overseas markets in the first nine months of 2020

Vietnam’s telecom major Viettel has successfully fulfilled its 2020 targets amid the outbreak of the Covid-19 pandemic as it ended the year on a positive note. The company made profits worth ₫ 264 trillion in 2020, which is 4.4 percent higher than the preceding year. Furthermore, Viettel’s pre-tax profit was ₫ 39.8 trillion, 4.1 percent higher than 2019.

The outstanding performance in 2020 highlights the company’s digital transformation journey and its transition from a telecom services provider to a digital services provider. Last year, Viettel launched several platforms related to activities such as cybersecurity, finance, content, digital infrastructure and solutions.

The company recorded a 25 percent surge to ₫ 5.6 trillion in profits in its 10 overseas markets in the first nine months of 2020. In Vietnam, Viettel dominated the telecom segment with a 54.2 percent market share.

Earlier, the company launched a rebranded design to transform its image and recognise itself as more than just a telecom company. The company floated the details of its new strategy at an event held in the first week of January.

The new strategy reflects the company’s creation of six business strands last year focused on areas outside traditional communications. Viettel earlier announced plans to expand its presence in countries such as Cuba and North Korea. The company is working hard to become one of the best telecom companies in Southeast Asia.

Vietnam ranks among the six nations to embrace 5G technologies and master them because of Viettel’s commitment towards the development of 5G equipment and 5G trails.

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