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Biggest mobilephone retailer to list on stock exchange

Biggest mobilephone retailer to list on stock exchange
The biggest mobilephone retailer in Viet Nam, The Gioi Di Dong (Mobile World) Joint-Stock Company...
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Biggest mobilephone retailer to list on stock exchange

General Director Nguyen Duc Tai talks about plan for 2014 at
the press conference on Thursday .—VNS Photo Le Thu Ngan

HCM CITY (Biz Hub) —The biggest mobilephone retailer in Viet Nam, The Gioi Di Dong (Mobile World) Joint-Stock Company (thegioididong.com), will be listed on the HCM City bourse in the second quarter of next year, the general director of the company, Nguyen Duc Tai, said.


The plan has been approved and will go ahead if "there is no sudden change," according to Tai.


In a press conference held on Wednesday in HCM City to review business plans of the past year and 2014, Tai announced that thegioididong.com this year had reached an after-tax profit of VND250 billion (US$12 million), nearly double that of last year.


He said that revenue year-on-year had increased by 25 per cent to reach more than VND7.8 trillion ($371 million) in 2013.


About 2.5 million mobile phones, 85,000 laptops and 76,000 tablets were sold in 2013, he said.


To reach such a result in difficult economic times, Tai said, was due to the company's strategy of viewing the customer as the core of the business as well as an emphasis on improving its selling culture.


In addition, free services and preferential selling policies were applied this year, such as the product-return programme in which customers can return mobilephones or accessories if they do not like them.


With such programmes, the company lost money but was willing to accept it as "we are so happy when customers come to our shops," he said.


All of the company's stores have been improved to allow a better customer experience. Moreover, the website was also updated and has averaged about 10 million hits per month.


For 2014, the company targets revenue of VND10.5 trillion ($500 million), and profits of VND350 billion ($16 million).


Another goal is to attract 150 million online customers and 50 million offline clients.


"Next year, we will continue to expand our chain. In particular, thegioididong.com will be available in rural areas," Tai said.


The company was established in 2004 with the first store in HCM City. It has more than 200 supermarkets in 65 provinces and cities. — VNS