1 week Ago
NEW DELHI: Financially-struggling Vodafone Idea entered into an strategic partnership with Korean Samsung , Finnish Nokia and Swedish Ericsson , to transform and upgrade fourth generation or 4G mobile network, and launch next generation (5G)-backed services in select areas in a $3.6 billion (Rs 300 crore) deal for a three-year term. "The deal marks the first step towards the rollout of the company’s transformative three-year capex plan of $6.
6 billion (Rs. 550 billion). The capex programme is directed towards expanding the 4G population coverage from 1.
03 billion to 1.2 billion, launching 5G in key markets and capacity expansion in line with data growth," the company said in a statement. Advt Further, the Mumbai-based telco said that it would continue with its existing long-term partners Nokia and Ericsson and also onboarded Samsung as a new partner.
The new contracts would allow the Company to quickly capitalise on the latest equipment to offer enhanced customer experience. The new telecom gear by the three vendors, according to the company, would also lead to efficiency gains in energy and lower the operating (opex) costs. The supplies against these new longterm awards will start in the coming quarter.
The company said that it would expand the 4G coverage to 1.2 billion Indians on a priority basis. “We are committed to invest in emerging network technologies to provide a best-in-class experience to our customers.
We have kickstarted the investment cycle," Akshaya Moondra, CEO, Vodafone Idea in a statement said. Further, Moondra said that the journey of VIL 2.0 and from hereon, includes a smart turnaround to effectively participate in the industry growth opportunities.
"Nokia and Ericsson have been our partners since our inception and this marks another milestone in that continuing partnership. We are pleased to start our new partnership with Samsung. We look forward to working closely with all our partners as we move into the 5G era.
” ETTelecom Published On Sep 22, 2024 at 12:44 PM IST Telegram Facebook Copy Link Be the first one to comment. Comment Now COMMENTS Comment Now Read Comment (1) All Comments By commenting, you agree to the Prohibited Content Policy Post By commenting, you agree to the Prohibited Content Policy Post Find this Comment Offensive? Choose your reason below and click on the submit button. This will alert our moderators to take actions REASONS FOR REPORTING Foul Language Defamatory Inciting hatred against a certain community Out of Context / Spam Others Report Join the community of 2M+ industry professionals Subscribe to our newsletter to get latest insights & analysis.
Download ETTelecom App Get Realtime updates Save your favourite articles Scan to download App Vodafone Idea Vi shares Vodafone Idea news Vi share price Nokia Ericsson Samsung telecom news.
