Mobile World to expand into Indonesia this year
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Mobile World is all set to enter Indonesia, its second overseas foray after setting up shop in Cambodia five years ago.
“We are trying our best to open our first Indonesian store this year,” CEO Doan Van Hieu Em told shareholders last weekend.
Vietnam’s biggest electronics retailer opened a BigPhone smartphone store in Cambodia’s Phnom Penh in 2017. Three years later it changed the name to Bluetronics and expanded to selling other electronics products too.
By the end of last year it had 50 stores in the neighboring country and revenues of nearly VND500 billion ($21.9 million), or 0.4 percent of overall sales.
The company had earlier been eyeing Laos and Myanmar, but it is unclear now if they are still in its plans.
Mobile World targets growth in post-tax profits of 30 percent this year to VND6.35 trillion.
Questions & Answers
Q.What proportion of Mobile World's total sales currently comes from its international operations?
What proportion of Mobile World's total sales currently comes from its international operations?
International operations, specifically its Cambodian stores, accounted for 0.4 percent of Mobile World's overall sales by the end of last year. This figure represents nearly VND500 billion ($21.9 million) in revenues.
Q.Which other countries had Mobile World previously considered for expansion?
Which other countries had Mobile World previously considered for expansion?
Mobile World had previously considered expanding into Laos and Myanmar. However, the article does not specify whether these countries are still part of the company's current expansion plans.
Q.What is Mobile World's profit growth target for this year?
What is Mobile World's profit growth target for this year?
Mobile World aims to achieve a 30 percent growth in post-tax profits this year. This target is set at VND6.35 trillion, according to information provided in the article.
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