True still optimistic on corporate solutions growth
- 21 Apr 2017 at 04:00
- WRITER: KOMSAN TORTERMVASANA
(Bangkok Post file photo)
True Corporation aims to maintain its double-digit revenue growth for corporate solutions business in 2017 to achieve a target of 15 billion baht, aided by the growing adoption of digital technologies.
"Our annual revenue growth for the corporate solution business is expected to grow by 12%, up from 13 billion baht in 2016, a faster pace than the average compound annual growth rate of 10% for the past decade," said Songtham Phianpattanawit, chief corporate solutions and cooperation officer.
The overall corporate solutions market in Thailand was valued at 54 billion baht in 2016, with an average compound annual growth rate of 5-6%.
"Our annual revenue growth rate outpaced the industry for the decade," he said.
True provides digital communication systems and solutions for 124,500 corporate clients nationwide. Of the total, 4,500 are large corporations while 120,000 are small and medium-sized enterprises (SMEs).
Revenue from large corporate clients accounted for 38% of its 13 billion baht in revenue for corporate solution business in 2016.
True owns a 27% market share, topping the industry.
Mr Songtham said True expects strong demand for digital communication products and solutions over the next five years, driven largely by the growing adoption of digital technologies as companies seek to keep pace as the economy changes.
"Innovative communication solutions are increasingly becoming more important for all sizes of businesses as they help them keep up with sophisticated customer demand," he said.
Mr Songtham said cloud-based infrastructure and the Internet of Things are increasingly playing crucial roles in boosting business efficiency across industries, such as with smart transportation systems, smart farming, and home automation systems.
True expects to add 500 large corporate clients this year, bringing its total to 5,000.
He said True will continue focusing on partnering more with businesses to provide innovative, high-end products and services to large organisations that plan to adapt to the rapidly changing business environment.
Potential partnerships will focus on four areas: smart digital communication solutions available in convergence packages for SMEs; after-sale services and privileges; innovative services; and media partnerships that can help True promote its businesses via appropriate communication channels.
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