.svg) | |
| True (since in 2004) | |
| Formerly | TelecomAsia (1990–2003) |
| Company type | Public |
| SET: TRUE | |
| Industry | Telecommunication Consumer electronics |
| Predecessor | Total Access Communication |
| Founded | 13 November 1990; 34 years ago (1990-11-13)[1] |
| Founder | Suphachai Chearavanont Boonchai Bencharongkul |
| Headquarters | , Thailand |
Area served | Thailand |
Key people | Manat Manavutiveth (CEO) |
| Products | Mobile phone Smartphones Set-top box Tablet computer |
| Services | Cable television,Mobile,Internet |
| Revenue |  140.94billion baht (2019)[2] |
| 7.1billion baht (2019)[2] | |
| 5.64billion baht (2019)[2] | |
| Total assets |  523.99billion baht (2016)[2] |
| Total equity | 126.02billion baht (2019)[2] |
| Owners |
|
Number of employees | 23,000 |
| Subsidiaries | seeSubsidiaries |
| Website | www.true.th |
True Corporation Public Company Limited (stylized astrue) is a communications conglomerate inThailand. It is a joint venture betweenCharoen Pokphand Group andTelenor, formed by the merger between the original True Corporation andDTAC in the form of equal partnership to create a new telecommunications company that can fully meet the needs of the digital age. True controls Thailand's largest cable TV provider,TrueVisions,[3] Thailand's largest internet service providerTrue Online,[citation needed] Thailand's largest mobile operators,TrueMove H andDTAC TriNet, which is second and third only toAIS.[4] and entertainment media including television, internet, online games, and mobile phones under theTrue Digital brand. As of August 2014, True, along with True Telecommunications Growth Infrastructure Fund, had a combined market capitalization of US$10 billion.[citation needed] TrueMove is also a partner ofVodafone Group.[5] Charoen Pokphand Group and Telenor hold equal ownership of 30% of True's shares as of March 2023.[6] It operates fixed-line (as a concessionaire ofNT (formerly known as TOT)),wireless,cable TV,IPTV andbroadband services.
True Corporation was established on 13 November 1990 asTelecomAsia.[7] The company had partnership withVerizon.[7] The company was listed on theStock Exchange of Thailand on 22 December 1993 (1993-12-22).[8] In 2001, TelecomAsia set up mobile phone subsidiaryTA Orange withOrange SA. Orange sold off its stake in 2003 but the Orange brand was used until 2006.[9]
In an effort to converge TelecomAsia's telecommunication business into a single brand, the company renamed itself to True Corporation in 2004,[10] and streamlined its operations with subsidiaries Asia Infonet (renamed True Internet[citation needed]) and Orange (renamed True Move in 2006[11]).
In 2005, True took a higher stake inUBC, Thailand's largestcable television provider that time[citation needed], and renamed the company to UBC-True.[12] On 24 January 2007, UBC-True was renamedTrueVisions.[citation needed]
On 8 May 2013, TrueMove H became Thailand's first mobile operator to provide 4G LTE commercial service on the 2100 MHz bandwidth.[13]
On 11 September 2014, it was announced thatChina Mobile agreed to purchase 18 percent of its shares for US$881 million.[14][15]
On 13 November 2014, TrueMove H announced that it allocated 10 billion baht to expand its 4G LTE network in Thailand to cover 80 percent of the country's population.[16]
In June 2015Suphachai Chearavanont, True's President and CEO, was presented with the "2015Frost & Sullivan Asia Pacific Telecom CEO of the Year" award in Singapore for his leadership and achievements in developing the telecommunications industry in the Asia Pacific region.[citation needed] In the same month, Chearavanont was elected president of The Telecommunications Association of Thailand.[citation needed]
On 22 November 2021,Charoen Pokphand andTelenor, officially announced they have agreed to explore a USD 8.6 billion merger plan between Thailand’s second and third largest telecom operators (by subscribers), True Corporation (TRUE) andTotal Access Communication (DTAC) – The proposed merger is subject to regulatory approvals. The merger is expected to be completed by late-September 2022.[17][18] The merger was "acknowledged" by the regulator NBTC at a meeting on 20 October 2022.[19] The newly merged company still retain the True Corporation name, which was founded on 1 March 2023 and it was listed on theStock Exchange of Thailand under the stock ticker symbol TRUE on 3 March 2023.[20]
2024, becoming tech company
True Corporation is moving forward to become Thailand’s leading telco-tech company[21] through transparent and sustainable operation, enhancing its competitive capabilities, and contributing to Thai social transformation. True is modernizing its network and leveraging digital technology and AI to drive operations and innovation. This includes advancements like the “Mari” chatbot, now evolved into a “voicebot” for human-like customer interactions, while prioritizing data privacy and security. True is also advancing digital technology for modern living, supporting digital transformation in various industries, and fostering an AI-first culture. Additionally, True remains committed to sustainability, ranked as a world-class organization on the Dow Jones Sustainability Indices (DJSI) for the sixth consecutive year according to S&P Global's announcement on December 8th, 2023. True is pursuing a comprehensive strategy for systemic change, emphasizing AI innovation, business efficiency, energy reduction, digital skills development, and using digital technology to reduce educational disparities. The company is also expanding business processes that uphold human rights throughout the supply chain, promoting transparent and accountable AI governance, and combating all forms of corruption.
True Corporation includes the following subsidiaries:[22]
Thai activists have charged that True, Thailand's largest ISP, shared dissidents' internet account details to the junta in the aftermath of the2014 Thai coup d'état. It is impossible to corroborate that True shared dissidents' data with law enforcement, but Thai governments since 2007 have sought to curb online criticism by passing legislation that compel ISPs to deploy online surveillance and censorship technologies.[23] True's privacy policy allows it to share data with law-enforcement authorities.[24]