Thailand's mobile service revenue is expected to maintain single-digit growth in 2017 on the back of strong data communications and video streaming usage.
But intense competition in the local mobile market through service plans and handset subsidies will continue to squeeze operators' profitability.
True Move expects its revenue to account for one-third of total mobile service revenue in 2018, up from 25% at the end of 2016, said Suphachai Chearavanont, chairman of the executive committee of True Corporation, at a recent shareholders' meeting.
The local mobile industry is expected to continue growing this year thanks to the shift from 3G to 4G technology.
The government's attempt to push the development of Thailand 4.0 is also an influential factor driving the use of wireless communication systems.
Mr Suphachai said True Move aims for revenue to grow by 16-20% this year and expects to record a profit on its 2017 operating results.
True Move posted a loss of 2.8 billion baht in 2016 due to hefty licensing costs and handset subsidies.
But Mr Suphachai said True Move saw a 28.4% increase in service revenue in 2016, which pushed True Corporation's overall revenue to increase by 17.7% -- its highest recorded revenue growth in a decade.
Mobile leader Advanced Info Service (AIS) saw its revenue only grow by 1%, while second ranked Total Access Communication (DTAC) saw its revenue contract by 2.3%.
True Move added 5.4 million new subscribers in 2016, representing up to 75% of new subscribers in the overall market, bringing its total subscribers to 24.5 million.
DTAC reported service revenue (excluding interconnection charges) of 16.2 billion baht in the first quarter of 2017. Its net profit plunged by 82% to 229 million baht in the first quarter.
Chief executive Lars Norling said DTAC had invested heavily in enhancing its network capacity in the first quarter as the company is capitalising on growing data service demand.
DTAC is focusing on boosting the number of high-usage postpaid customers to increase service revenue and margins.
Data service revenue accounted for 64% of its total mobile service revenue.
As of March 2017, DTAC had 24.3 million subscribers, while AIS had 40.6 million.