FPT Retail, a subsidiary of FPT - one of the leading IT service providers in Vietnam - launched a virtual wireless communications service on January 11.

The launch sees the company become the fifth mobile virtual network operator (MVNO) in Vietnam, joining Itel, Wintel, My Local, and VNSky.

Its new service is expected to target young, tech-savvy customers, together with business customers, households, and those using IoT and M2M services.

A MVNO is a reseller of wireless communications services. It leases wireless capacity from a third-party mobile network operator at wholesale prices and resells it to consumers at reduced retail prices under its own business brand.

There are about 2.5 million MVNO subscribers in Vietnam, figures from the Ministry of Information and Communications show.