MVNO TrueMove H added 678,000 subscribers during Q213

TrueMove H added 678,000 subscribers during Q213. 

At the end of 2Q13, True Mobile Group served a combined total of 22.1 million subscribers with 18.2 million coming from TrueMove, while the group’s 3G/4G MVNO/Reseller division “TrueMove H” produced 3.9 million subscribers.

TrueMove H’s net adds during the quarter were 678,000 subscribers compared to 298,000 in the previous quarter.

The group’s revenue in second quarter of 2013 grew 10.6% year-on-year to THB 8.5 billion driven mainly by the growth of True’s MVNO/Reseller division “TrueMove H” subscriber base, while non-voice usage continued its strong growth.

Quarter-over-quarter, revenue declined 0.3% offset by seasonal declines in voice usage mainly from TrueMove’s prepaid segment.

True Service Revenue 2Q13
True Service Revenue 2Q13

True Mobile Group’s postpaid revenue grew 4.0% quarter-over-quarter, 38.6% year-on-year to THB 4.5 billion as the MVNO, TrueMove H continued to gain high-value postpaid customers.


Prepaid revenue declined 5.3% quarter-over-quarter, 13.8% year-on-year to THB 3.3 billion due to lower voice revenue from TrueMove’s prepaid customers, despite rising data usage among TrueMove H’s prepaid customers.


Non-voice revenue rose 5.1% quarter-over-quarter, 50.5% Year-on-year to THB 3.3 billion mainly on rising mobile Internet usage. Contribution from non-voice revenue to service revenue increased to 37.5% in 2Q13 from 35.6% in 1Q13 and 27.6% in 2Q12.

Blended ARPU
True Subscribers and ARPU Q22013
True Subscribers and ARPU Q22013

TrueMove H’s blended ARPU was THB 467 in 2Q13, declining from THB 491 in 1Q13 as its subscriber base was expanded beyond early 3G/ smartphone adopters to include lower tier customers while the proportion of prepaid subscribers also increased.

Mobile Device Sales

Product sales grew 26.5% year-on-year to THB 3.4 billion from rising popularity of smartphones (i.e. iPhone, Samsung) but declined 16.2% quarter-over-quarter mainly due to lower momentum of iPhone 5. During the quarter, TrueMove H launched two True branded smartphones and one tablet (True Beyond). More device-bundling packages as well as a wide range of content and applications were introduced.


Cash OPEX rose 13.7% quarter-over-quarter, 27.0% year-on-year to THB 6.4 billion driven mainly by higher selling and advertising expenses. Expenses related to network expansion also contributed to the year-on-year increase in OPEX.


EBITDA increased 4.4% year-on-year in line with rising revenue but declined 25.1% quarter-over-quarter to THB 1.2 billion from the significant increase in cash OPEX.

Author: Allan Rasmussen
Managing director at Yozzo. Allan is a MVNA/MVNE/MVNO specialist with hands-on experience from more than 60 projects in both competitive and greenfield markets. His expertise includes business case development, execution, launch and growth strategies. Advisor and consultant to mobile network operators, MVNA, MVNE, MVNO, National Regulatory Authorities, Government Agencies, Broadcast Companies, TMT Industry Associations, Innovation and Investment Banks.
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