China Unicom (Hong Kong) Operations, a subsidiary of China Unicom (600050, 0762HK), launched a representative office in Hanoi, Vietnam on November 5, reports Xinhuanet. This is the second branch opened by the company in Southeast Asia.
The Vietnam representative office provides customers in Southeast Asia with China Unicom's network, business services and technical support.
China Unicom had previously signed a memorandum with Hanoi Telecom to support the development of Hanoi Telecom’s CDMA business.
According to the data released, the Vietnamese telecom industry recorded revenue of $5.4 billion in 2008, an increase of 38 percent year-on-year.
The number of registered phone users in Vietnam reached 82.25 million as of end 2008, of which mobile users accounted for 85.5 percent.
Shares of China Unicom rose 1.67 percent to trade at 5.49 yuan at 14:12 pm today.