The business of ‘lucky’ mobile phone numbers which has brought big profits for retailers is likely to go bankrupt.
Bigger investment, more risk for bankruptcy
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| The business of ‘lucky’ mobile phone numbers which has brought big profits for retailers is likely to go bankrupt. |
Mobile phone SIM card traders could face bankruptcy when their highly valued ‘lucky’ mobile phone SIM card numbers which they have stockpiled face confiscation.
Under the regulation by Vinaphone and MobiFone, SIM cards released before midnight on Aug 1, 2011 will be rendered inactive after Dec 31, 2013 and those released after this time will become inactive after midnight on December 31, 2012 in cases where they have not been activated for service or have been activated but not put into service. The new regulation will smother the stockpiling of lucrative ‘lucky’ phone numbers.
However, the changes will force the mobile phone number business and agents that have invested in SIM cards to suffer huge losses. Thousands of SIM cards will become useless if they can not be sold before their use time ends, even favourite and lucky numbers which cost up to hundreds of millions of VND each.
A trader in Hoang Mai District, Hanoi, said he now holds some 3,000 SIM cards worth VND130 million (USD6,250), including many favourite numbers. He will be forced to sell them to avoid big losses.
Another trader in Ha Dong District, Hanoi, said agents often buy favourite SIM cards from mobile phone operators, other agents or subscribers. Agents have to make instant payments with the operators. Meanwhile, they keep favourite numbers for gradual sale to shops and the profits depend on how much the shops are willing to pay.
Currently, the domestic SIM card market is at the saturation point and agents will struggle to sell SIM cards in large volumes, including their stockpiles of prize numbers.
Some traders said the mobile phone operators should consider the interest of agents, saying that the regulation took effect from August 1, but should be applied to all SIM cards released previously.
Mobile phone number trader reactions
The regulation is aimed to tighten control over digital resources, however, it is only related to SIM cards sold to agents which have not yet been activated, but does not include SIM cards which were already activated but have since become inactive.
Recently, mobile phone operators have complained about running out of numbers and proposed new numbers; but they are spending money to maintain SIM cards which are inactive as a result of their race to launch promotions.
Meanwhile, SIM cards sold to agents which have not yet been activated should be maintained and used.