Mobile World JSC: A comprehensive overview and recent performance

Founded in 2004, the company has witnessed exponential growth, positioning itself as the largest retailer in its field in Vietnam, dominating multiple retail segments with an extensive market share.

Starting its journey with mobile phones, Mobile World JSC has since diversified its operations, establishing retail chains that have become household names in Vietnam: Thegioididong.com for mobile phones and accessories, DienmayXANH for electronics and household appliances, and BachhoaXANH for groceries and household goods. These brands are renowned for their extensive product offerings, competitive pricing, and excellent customer service.

Business Information

Mobile World JSC operates a vast network of stores across Vietnam, with thousands of retail outlets catering to a diverse customer base. The company’s business model is a blend of brick-and-mortar stores supported by a robust online presence, providing a seamless shopping experience. This omni-channel approach allows Mobile World JSC to serve customers both in-store and online.

The company’s core business segments include:

• Thegioididong.com: The largest mobile phone retailer in Vietnam, specializing in mobile phones and accessories.
• DienmayXANH: A retail chain focused on electronics and household appliances, offering a wide range of products from televisions to refrigerators.
• BachhoaXANH: A supermarket chain providing groceries and household goods, catering to daily consumer needs.

Beyond its core retail business, Mobile World JSC has also ventured into the financial services sector, offering installment payment options for its products, making it easier for consumers to access high-value items.

Mobile World JSC has demonstrated strong financial performance over the years, driven by its expansive retail network and growing consumer demand. The company consistently reports robust revenue growth, reflecting its dominant position in the market. In the latest fiscal year, Mobile World JSC reported revenue exceeding VND 120 trillion (approximately USD 5.2 billion) and a net profit of VND 4.5 trillion (approximately USD 195 million), with a gross profit margin of around 21%. These figures underscore the company’s financial strength, characterized by strong cash flow, low debt levels, and consistent dividend payouts.

Recent Performance

Mobile World Investment Corporation (MWG), the parent company of Mobile World JSC, has continued its upward trajectory, surpassing $3 billion in revenue in the first seven months of the year—a 15% year-on-year increase. This growth was primarily driven by the success of its BachhoaXANH chain and a 6% growth in its Thegioididong.com (TGDĐ) and DienmayXANH (ĐMX) segments.

According to the company’s business report for the first seven months, MWG recorded a total revenue of VND 76,541 billion (over $3 billion), achieving 61% of its annual target. Revenue for July alone grew by 10%, reaching VND 10,920 billion. The TGDĐ and ĐMX chains collectively contributed VND 51,300 billion, reflecting a 6% increase compared to the same period last year. These two chains generated around VND 7,200 billion in July, a 5% year-on-year increase.

BachhoaXANH, MWG’s food retail chain, reported revenue of approximately VND 23,000 billion since the beginning of the year, marking a 40% increase year-on-year. In July, BachhoaXANH achieved revenue of over VND 3,600 billion, up nearly 28% from the same month last year. The average revenue per store in July reached a record VND 2.1 billion, significantly exceeding the estimated breakeven point of approximately VND 1.8 billion per store.

The company has implemented practical sales strategies, resulting in positive growth in some product categories entering peak season, such as laptops and washing machines. Additionally, the smartphone segment has continued its positive growth trajectory over several months, with online sales during the first seven months reaching nearly VND 6,300 billion, accounting for 12% of the total revenue from the TGDĐ and ĐMX chains.

Leadership

The leadership team of Mobile World JSC is comprised of experienced professionals who have been instrumental in driving the company’s growth and success. Key figures include:

• Nguyen Duc Tai - Chairman and Co-founder: With a background in economics and a strong vision for retail, Nguyen Duc Tai has been at the helm of the company since its inception, guiding it to become a market leader.
• Tran Kinh Doanh - CEO: Tran Kinh Doanh, with his extensive experience in retail management, plays a critical role in the day-to-day operations of the company, ensuring its strategic goals are met.
• Doan Van Hieu Em - CEO of Thegioididong.com and DienmayXANH: Known for his dynamic leadership, Doan Van Hieu Em has been pivotal in expanding the company's retail chains and enhancing customer engagement.

These leaders, supported by a strong management team, continue to drive the company forward, focusing on innovation, customer satisfaction, and sustainable growth.

Learn More with Vietnam Business Information’s Company Report

For those interested in an in-depth analysis of Mobile World JSC, including detailed financial data, market insights, and future growth projections, the company report by Vietnam Business Information offers comprehensive coverage. This report is an essential resource for investors, analysts, and business professionals looking to gain a deeper understanding of the company’s operations and strategic direction. To access the full report, visit Vietnam Business Information’s company report.

Ami Le - Vietnam Business Information