The WhiteSpace, a new mobile virtual network operator (MVNO) under the Penguin brand, says it could take over the leading position in the local MVNO market within six months of its inception.
"Our business has grown well beyond expectations, thanks to skyrocketing demand for mobile internet, especially in the big provinces," said chief executive Chaiyod Chirabowornkul.
The company currently has 300,000 subscribers, three months ahead of the company's initial target, he said.
"We're sure we are now No.1 in the local MVNO market, overtaking the leading position from Samart I-Mobile," Mr Chaiyod said.
The company expects the number of its subscribers to reach 500,000 by year-end.
Samart I-Mobile is believed to have fewer than 300,000 subscribers, down from 700,000-800,000 last year. Samart executives did not provide a figure yesterday.
An MVNO provides mobile services, but lacks its own network, usually relying on a mobile network operator's infrastructure.
The WhiteSpace yesterday launched two new tariff packages, called Senior SIM and Youngster SIM, targeting elderly people and teen customers, which will charge users one satang per second for calls to all mobile networks.
"We charge customers on per second basis," Mr Chaiyod said.
The WhiteSpace provides 3G mobile service on CAT Telecom's 850-megahertz spectrum under the MVNO model through a network rental contract. The company plans to provide 4G high-speed wireless service in the near future.
Mr Chaiyod said The WhiteSpace acquired an average of 80,000 new subscribers per month.
Thanks to its attractive tariff plans and clear business and marketing directions, 85% of their total customers are from the provinces, and the remaining 15% are from Bangkok.
The WhiteSpace has allocated 100 million baht this year towards marketing.
Founded by a group of former executives of Total Access Communication (DTAC) in March this year with a registered capital of 450 million baht, The WhiteSpace now has 100 employees, 80 of whom are sales people.
The WhiteSpace has 18,000 distribution channels nationwide.
"We expect our business to turn a profit by 2017," he said, conceding that the company will face a loss this year.
Mr Chaiyod said The WhiteSpace will introduce a slew of promotional tariff packages for startup companies next year to capitalise on the country's startup boom.
Thailand's mobile market is dominated by three companies -- Advanced Info Service, DTAC and True Move -- that hold over 95% of the country's mobile subscriber base.
High levels of market saturation have brought about a shift towards developed markets like 4G and data-intensive applications.