Local mobile phone networks Vinaphone and MobiFone have decided to cut their rates by between 10-15 percent starting Monday, news website VnExpress reported.
The companies, both managed by state-owned Vietnam Posts and Telecommunications, will offer the cuts to both pre-paid and post-paid subscribers.
The move came after military-run Viettel lowered its service prices by the same amount last week.
Vinaphone, MobiFone and Viettel are the largest wireless carriers in the country. They sought the government's consent to cut rates by up to 20 percent several times this year but their proposals were rejected.
The telecommunications authority last month banned local mobile phone networks from cutting their rates by more than 15 percent, preventing them from selling below cost to compete against each other.
Other mobile phone operators including S-Fone, Vietnamobile and Beeline have not made any new move in terms of pricing, VnExpress said in its report on Sunday.