Digital transformation has been underway in Vietnam for a long time, but there are still many opportunities and potential for new companies to enter the market, especially in the technology sector.
The telecommunications market has undergone two major transformations to date. The first was the transition from analog to digital technology, and the second involved a shift from telecommunications infrastructure to digital infrastructure, and from communication infrastructure to the infrastructure of the digital economy (the infrastructure for developing the digital economy). This requires telecommunications businesses in general, and MobiFone in particular, to position themselves, leverage their existing strengths, and continue to develop on the path ahead.
The realities and aspirations driving MobiFone's transformation.
In reality, the telecommunications market has entered a saturation phase. Total telecommunications revenue in the first half of 2022 increased by only 0.6% compared to the same period the previous year. Vietnam currently has 127 million mobile subscribers out of nearly 100 million people. Fierce competition has driven prices down, reducing profitability.
Users are also gradually shifting to internet-based connections, with fewer habits of sending SMS messages or making regular phone calls. Furthermore, over 90% of the market share currently belongs to the three largest network operators, including MobiFone, meaning there is still room for expansion, but breakthrough growth is unlikely.
Globally, the Fourth Industrial Revolution is driving the explosion of the Internet of Things, cloud computing, big data, and especially artificial intelligence. Digital technology offers numerous opportunities for breakthroughs in products and services, improved production processes, reduced costs, and increased efficiency.
From its inception, MobiFone has carried the mission of a pioneer, always striving to bring new solutions to customers and lead the market.
With that aspiration, MobiFone decided to transform itself into a technology enterprise, actively participating in the implementation of the National Strategy for the Development of Information Infrastructure, Digital Infrastructure, and Network Information Security, and the National Program on Enhancing the Independence, Self-Reliance, and Self-Strengthening Capacity of Vietnam's Production Sector by 2045 (Make in Vietnam 2045).
Optimize conversion
MobiFone recognizes that for a smooth and successful transformation, the first and most crucial factor is people. Over three decades, the company has created a creative work environment and a professional, visionary, dynamic workforce that adapts quickly to changes in technology and the market.
A representative from MobiFone shared: “ MobiFone focuses on building platforms and tools to support its employees, giving them more space to be creative, creating a better working environment to improve work efficiency and enhance the experience of internal customers. With a spirit of speed and innovation, every MobiFone employee always upholds the core values of professionalism and efficiency as a guiding principle for all actions .”
MobiFone employees always prioritize "speed, innovation, professionalism, and efficiency" as the guiding principle for all their actions.
MobiFone is also innovating its methods and optimizing its operations to achieve maximum business efficiency, applying internal technology to optimize processes, minimize costs, and increase productivity.
The company plans to strengthen cooperation with companies and organizations in the technology industry to understand and leverage new opportunities, contributing to the development of Vietnam's technology sector.
Simultaneously, MobiFone allocates a portion of its annual profits to R&D – research and development of new technologies, focusing on developing high-quality technology products and services, providing customers with effective and convenient solutions that meet market demands.
Transformation strategy
MobiFone is an infrastructure enterprise. As it transitions from telecommunications infrastructure to digital infrastructure (including universal broadband telecommunications infrastructure, cloud computing infrastructure, and digital technology infrastructure), MobiFone strives to maintain its position as one of the top three digital infrastructure companies in Vietnam.
In the context of a gradually saturated and increasingly challenging telecommunications market, MobiFone has set out a plan to "maintain its telecommunications position and conquer new spaces".
Based on five main pillars – “customers – products – technology – operations – capabilities” – MobiFone has set specific goals for 2025 to rapidly develop new digital products and services beyond telecommunications, such as: digital infrastructure business, providing digital platforms/solutions and digital content; and building an increasingly complete MobiFone digital ecosystem.
It is projected that new digital services will account for 27% of total revenue by 2025, including youth branding, digital content, digital payments, digital advertising, online games, digital healthcare, cloud services, information security, digital education , and IoT. Among these, the digital education and digital healthcare sectors are expected to contribute increasingly larger revenues to businesses.
A representative from MobiFone stated: “ MobiFone is investing heavily in new areas of development, including mobile connectivity, enterprise IT solutions, and digital services.”
To date, MobiFone has built a digital ecosystem with digital education solutions (mobiEdu), smart broadcasting, digital healthcare, digital finance (the MobiFone Money ecosystem including e-wallets and cryptocurrencies), and paperless office solutions (Smart Office)… not only meeting the needs of a large number of people but also contributing to promoting the national digital transformation process and keeping pace with the global digitalization trend .”
With its motto "Maximizing Life," MobiFone is undergoing a strong transformation to embrace technology, meet and create needs in the digital economy and digital life of its customers; providing diverse types of services to meet increasingly diverse needs, creating a platform and tools that give customers more space to innovate.
Furthermore, a complete ecosystem will help save time and costs, minimize negative impacts, and improve operational efficiency for businesses; at the same time, it will bring convenience, enhance customer experience, and move towards a digital future for all individual and business customers of MobiFone.
MobiFone installs base stations in Ho Chi Minh City.
On its journey to transform from a traditional telecommunications enterprise into a technology company, MobiFone consistently sets appropriate medium- and long-term goals for each stage; implements medium-term plans, model projects, and restructuring in all aspects of organization, personnel, and management; and continues to implement deep and broad digital transformation, creating momentum for the development of business, technology, and investment areas.
In the spirit of leveraging its core strengths in providing telecommunications infrastructure, promoting the development of digital infrastructure, fully exploiting the power of technology, optimizing resources, and implementing a business model that is fast, efficient, and creates competitive capacity, MobiFone will focus on investing in the development and business of new technology platforms in the coming period, exploiting technology as a service to improve the quality of life and enrich the user experience.
Bao Anh
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