After deciding to make an exit from its most lucrative market - India, Hutchison Telecommunication International Limited (HTIL) announced to start its services in a comparatively small & new market 'Vietnam'.
Hutchison Telecom and Hanoi Telecom Joint Stock Company have entered a fifty-fifty venture, which is named HT Mobile. The US$ 656 Million mobile network project is a business cooperation contract with the duration of 15 years. And, it's expected to start within two years of obtaining license from the Vietnamese Ministry of Planning and Investment by February 17, 2007.
Under the contract, the twothe two companies will develop a 'CDMA-2000' network in order to provide mobile telecommunication services in Vietnam, said company officials. Vietnamese consumers will be provided with high-speed multimedia data & advanced wireless voice services, a wide choice of handsets with a flexible call plans by the HT Mobile. HT Mobile also announced the launch of the first 2.4 Mbps wireless data card in Vietnam.
In the month of December 2006, nearly 16 Million of the 84 Million people in the country had mobile phones. As per, CEO of Hutchison Telecom, Dennis Lui's statement in news published in Financial Express, "Vietnam is one of the most vibrant and healthy economies in the world. HT Mobile's launch marks a significant step towards Hutchison Telecom's vision to achieve growth through investment in high potential markets."
"There has been an exponential growth in the demand for value-added voice & high-speed multimedia data services. Therefore HT Mobile is very much likely to emerge as one of the best growing operators in Vietnam", as per a research analyst at RNCOS.
