The Viet Nam Post and Telecommunication Group (VNPT) officially announced the establishment of VNPT-Vinaphone, VNPT-Media, and VNPT-Net on Friday.

VNPT-Vinaphone, with a registered capital of VND5.2 trillion (US$239.6 million), will focus on the trade of telecommunication and information technology service products, television and broadcast, multimedia, and value-added services.

It has set the revenue target for 2020 at VND26 trillion ($1.19 billion) with a pre-tax gain of VND3.3 trillion ($152.07 million) and an average growth rate of 49 per cent per year. The company expects that its mobile phone service will occupy more than 30 per cent of the market share and over 80 per cent of the broadband service by the same time.

Meanwhile, VNPT-Media will study, develop and produce software service products, manage and carry out television activities, and supply subscriber programmes. Its charter capital is VND2.3 trillion ($105.9 million).

VNPT-Net has been established on the re-organisation of several companies, including Vietnam Telecoms National, Vietnam Data Communication Company, and VNPT International.

Source: VNS