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Baht/$ 33.60/68 (Bid/Ask)
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13,350
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COMMUNICATIONS
SRISAMORN PHOOSUPHANUSORN
Samart Corporation will introduce another new mobile handset brand this month in an effort to tap the premium market and offset a decline in sales of its low-margin i-Mobile brand.
The communications equipment company is also gearing up to provide mobile virtual network operator (MVNO) services in Malaysia and Thailand once it obtains a licence from the National Telecommunications Commission.
President Watchai Vilailuck said that Samart, through its handset flagship Samart I-Mobile, would introduce a new handset brand this month, featuring television functions and two SIM cards and priced at more than 10,000 baht a unit.
He said Samart was also on the verge of diversifying into third-generation (3G) content and outsourcing services to gen erate new revenue streams.
Samart reported consolidated revenue of 3.66 billion baht in the second quarter, down 18% from the same period last year. Consolidated net profit increased 2% year-on-year to 124 million baht. First-half revenue was 7.884 billion baht, down 27%, while net profit increased 1% to 269 million.
Samart I-Mobile reported second-quarter revenue of 2.385 billion baht, down 34% year-on-year. Net profit fell 62% to 50 million baht.
Samart Telcoms said that its second-quarter net profit doubled year-on-year to 100 million baht and revenue increased 70% to 700 million baht.
Mr Watchai attributed the decline in I-Mobile revenue to a sharp reduction in handset prices, which now averaged 2,694 baht a unit, compared with 3,634 baht a year earlier.
Samart I-Mobile expects to sell five million handsets this year, 2.8 million locally and the rest overseas.
The company sold 1.233 million i-Mobile handsets out of total sales of 4.3 million units in the first half of this year. It has a 28% share in the local market.
Mt Watchai said he remained confident that Samart could achieve its revenue target of 30 billion baht this year, helped by potential government projects worth 10 billion baht and high-priced handset sales of its new brand.
As well, he said, TOT Plc and Airports of Thailand Plc were expected to clear a combined two billion baht in debts owed to the company this year.
Samart shares closed yesterday on the Stock Exchange of Thailand at 7.05 baht, up 25 satang, in trade worth 58 million baht.
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