True Corporation

True Corporation
Public
Traded as SET: TRUE
Industry Telecommunication
Consumer electronics
Founded 13 November 1990 (1990-11-13)[1]
Headquarters Huai Khwang, Bangkok, Thailand
Area served
 Thailand
Key people
 Suphachai Chearavanont (CEO)
Products Mobile phone
Smartphones
Set-top box
Tablet computer
Services Cable television, Mobile, Internet
Revenue IncreaseTHB124 billion (2016)
Total assets IncreaseTHB442 billion (2016)
Number of employees
 23,000
Parent Charoen Pokphand Group
Subsidiaries see Subsidiaries
Website www.truecorp.co.th

True Corporation Public Company Limited (TRUE) is a communication conglomerate in Thailand. True controls Thailand's largest cable TV provider TrueVisions, its largest ISP True Internet and one of Thailand's largest mobile operators, TrueMove H, which is second only to AIS, having surpassed third ranked Dtac in January 2017. As of August 2014, True, along with True GIF, have a combined market capitalization of some US$10 billion. TrueMove is also partnered with Vodafone Group plc.

True Corporation is a subsidiary of Charoen Pokphand Group, which holds 50.21% of TRUE's shares through individual and subsidiaries as of March 2017.[2]

History

True Corporation was established in 13 November 1990 as TelecomAsia. The firm had a strategic partnership with Verizon. The company was listed on the Stock Exchange of Thailand on December 22, 1993.[3] In 2001, TelecomAsia set up a mobile phone subsidiary with Orange SA. Orange sold off its stake in the venture in 2003 but the Orange brand was still used until 2006.[4]

In an effort to converge all its existing telecommunications related business into a single brand, the company renamed itself True Corporation in 2004 and streamlined its operations with subsidiaries AsiaInfonet (renamed True Internet) and Orange (renamed True Move in 2006) amongst others.[5] It operates fixed-line (as a concessionaire of TOT Plc), wireless, Cable TV, IPTV and Broadband services amongst others.

The company has aggressively pushed itself as an Internet service provider, a broadband and ADSL network. With more than 1 million subscribers, it is now Thailand's largest ISP.

In 2005, True took a higher stake in UBC, Thailand's largest cable television provider, and renamed the network UBC-True.[6] On January 24, 2007 UBC-True was renamed TrueVisions and TrueVisions was renamed due to True Corporation Public Company Limited.

Today, True Corporation Public Company Limited, has pushed communication businesses into one brand, "True", promoting the companies in the form of True Convergence.

On 8 May 2013, TrueMove H officially launched its 4G LTE commercial service on the 2100 MHz bandwidth.[7] This has made it become the first mobile operator in Thailand to offer 4G LTE service on the 2100 MHz spectrum. As of 15 May 2013, the company plans to roll out 300 4G base stations in central Bangkok and 2000 more in 15 major provinces later this year.

True is also available in Cambodia, Laos, Vietnam and Malaysia.

On September 11, 2014, it was announced that China Mobile, with whom True Corporation formed the strategic partnership, agreed to purchase 18% of its share for a deal approximately US$881 million, subject to shareholders' approval.[8][9][10]

On November 13, 2014, Truemove-H was announced to increase its investment. 10,000 million Baht to expand its 4G LTE network covers 80% of the entire population by June 2015.[11]

In June 2015 Suphachai Chearavanont, True's President and CEO was presented with the “2015 Frost & Sullivan Asia Pacific Telecom CEO of the Year” award at The Asia Pacific ICT Awards in Singapore for his leadership and outstanding achievements in developing the telecommunications industry within the Asia Pacific region. In the same month, Suphachai was elected President of The Telecommunications Association of Thailand under The Royal Patronage.

Subsidiaries

True Corporation includes the following subsidiaries:[12]

References

  1. ↑ Annual Registration Statement 2009 (56-1). True Corporation. Retrieved 27 June 2010.
  2. ↑ Shareinvestor. "Investor Relations". investor.truecorp.co.th. Retrieved 2017-06-08.
  3. ↑ "TRUE Company Profile". Stock Exchange of Thailand. Retrieved 3 July 2010.
  4. ↑ "TA Orange's strategic partner Orange SA sells off 39% of its 49% stake in the Thai mobile operator to TelecomAsia for a nominal one Baht". Telecom Asia. 2004-04-01.
  5. ↑ "True Corporation". Truecorp.co.th. Retrieved 2012-02-17.
  6. ↑ Amnatcharoenrit, Bamrung and Tortermvasana, Komsan (November 8, 2005). "True Corp set to take over UBC" Archived 2008-03-11 at the Wayback Machine., Bangkok Post (retrieved July 18, 2006 until August 18, 2015 via AsiaMedia.com).
  7. ↑ "True Move H – The First To Offer 4G LTE Service On 2100 MHz In Thailand While Reinforcing Its Leadership As The Largest 3G Operator,". thaipr.net.
  8. ↑ Jittapong, Khettiya (June 9, 2014). "China Mobile to buy $881mln stake in Thai billionaire's True Corp". Reuters. Retrieved June 11, 2014.
  9. ↑ Phoosuphanusorn, Srisamorn & Leesa-nguansuk, Suchit (June 10, 2014). "China Mobile to buy into True". Bangkok Post. Retrieved June 11, 2014.
  10. ↑ "China Mobile Press Release".
  11. ↑ "True announced high-speed Internet in Bangkok with all-fiber network in 2 years. - Mobile Asia". mobileasia.net.
  12. ↑ "Annual Report 2014".
  13. ↑ "True Group, in Collaboration with S.M. Entertainment from South Korea,Establishes a Joint-Venture "SM True Co., Ltd."To Bring A New Era of Entertainment to Thailand". True Corporation. Retrieved 16 August 2011.
  14. ↑ "S.M. Entertainment establishes joint venture company with Thailand’s True Visions Group, ‘SM True’". allkpop. Retrieved 16 August 2011.
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