MVNO i-Mobile Plus formerly named i-Mobile 3GX is targeting 700,000 subscribers.

According to Bualuang Securities, i-Mobile Plus, a subsidiary of Samart Corporation, has set a target of 600-700k cumulative MVNO subscribers by end of 2013 and 2 million end of year 2014.

The company claims there were 200,000 active MVNO subscribers end of June 2013, up from 89,000 back in January 2013.

The average total top-up of all MVNO subscribers rose to THB 401,173/day in June 2013 up from THB 178,115/day in January 2013.

ARPU/month is now THB 160-170 and is expected to rise to THB 200 in 2014 and the MVNO's net loss has eased to THB 6 million/month in 2Q13 (from THB 10 million/month in 1Q13).

Samart is targeting a break-even for the MVNO in 4Q 2013 at 500,000 cumulative subscribers and a THB 200 million net profit in 2014.

Earlier this year, Samart entered a five-year contract by state-run telco TOT for exclusive rights to 40 percent of TOT’s 3G network capacity to be resold to end-users under TOT’s new business model.

TOT’s board chairman, Panthep Chamrasromran announced that i-Mobile Plus would pay TOT guaranteed minimum revenue of THB 156 million for the first year and THB 476 million for the second, Back then the MVNO was targeting 860,000 3G subscribers in the first year of operations (2013) and 1.81 million in the second year.

Previously, named i-Mobile 3GX, the MVNO changed its name back in February 2013 to Samart i-Mobile Plus.

i-Mobile 3GX was among a group of five Thai MVNOs reselling 3G services over TOT’s HSPA network in Bangkok under one-year contracts, alongside Loxley (i-kool), IEC Technology (IEC 3G), 365 Communication (365 3G) and M Consult Asia (Mojo 3G). The five MVNO’s only managed to obtain ~100,000 subscribers over a period of 3 ½ years.