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VietNamNews

Mobile World hits yearly target in 9 months

Update: November, 03/2014 - 08:24

The company reported after-tax profits of VND488 billion ($23 million) for the first nine months on revenues of over VND10.9 trillion ($519 million), a 66 per cent year-one-year rise. — Photo f319.com

HCM CITY (VNS) — Giant mobile phone retailer Mobile World Investment Corporation announced on Friday that it had achieved the full year profit target in just nine months.

At a media briefing in HCM City, the company reported after-tax profits of VND488 billion (US$23 million) for the first nine months on revenues of over VND10.9 trillion ($519 million), a 66 per cent year-one-year rise.

MWG chairman and CEO Nguyen Duc Tai hailed the contribution made by online sales.

"The revenue from online business in nine months was over VND608 billion ($29 million), double the figure for the whole of 2013. By the end of this year the revenue is expected to be over VND800 billion ($38 million)."

During the period in review the company opened 60 more stores. In October only, 28 stores were opened nation-wide.

Tai said thegioididong.com has a market share of 28-30 per cent and would stop expanding when it reaches 40 per cent.

MWG plans to focus on developing its consumer electronics and home supplies chain dienmay.com next and targets leadership of that market too with a share of 8-10 per cent. — VNS

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