Giant mobile phone retailer Mobile World Investment Corporation announced on October 31 that it had achieved the full year profit target in just nine months.

At a media briefing in Ho Chi Minh City, the company reported after-tax profits of 488 billion VND (23 million USD) for the first nine months on revenues of over 10.9 trillion VND (519 million USD), a 66 percent year-one-year rise.

MWG Chairman and CEO Nguyen Duc Tai hailed the contribution made by online sales.

"The revenue from online business in nine months was over 608 billion VND (29 million USD), double the figure for the whole of 2013. By the end of this year the revenue is expected to be over 800 billion VND (38 million USD)."

During the period in review the company opened 60 more stores. In October only, 28 stores were opened nation-wide.

Tai said has a market share of 28-30 percent and would stop expanding when it reaches 40 percent.

MWG plans to focus on developing its consumer electronics and home supplies chain next and targets leadership of that market too with a share of 8-10 percent.-VNA