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Vodafone Idea finalised a $3.6 billion deal with Nokia, Ericsson, and Samsung, focusing on expanding 4G and introducing 5G. Vodafone Idea Ltd. share price gained 1.35% amid the development.
Vodafone Idea Ltd. has successfully finalised a $3.6 billion (₹30,000 crore) deal with global telecom equipment providers Nokia, Ericsson, and Samsung. This major deal forms part of Vodafone Idea’s three-year capital expenditure plan to upgrade its network infrastructure. The company’s existing partners, Nokia and Ericsson, will continue to support this plan, while Samsung has been onboarded as a new partner.
The $6.6 billion (₹55,000 crore) capex programme focuses on expanding Vodafone Idea's 4G population coverage and introducing 5G services in key markets. Currently, the company serves over 1.03 billion people through its 4G network, and with this investment, it aims to increase its coverage to 1.2 billion Indians over the next three years.
The long-term network equipment supply deal will start showing results from the next quarter, as Vodafone Idea intends to boost its network capacity and operational efficiency. In particular, the company has highlighted that the new equipment will reduce energy consumption, which will lead to lower operating costs.
Vodafone Idea has already made strides in enhancing its existing infrastructure. Following the completion of a recent equity raise of ₹24,000 crore and spectrum acquisition worth ₹3,500 crore, the company has increased its network capacity by 15%. This quick deployment has expanded population coverage by an additional 1.6 crore people by the end of September 2024.
The primary focus for Vodafone Idea remains the expansion of its 4G coverage, followed by the launch of 5G in key markets, allowing the company to meet the growing demand for data services across India.
Vodafone Idea Ltd. share price settled 1.35% higher at ₹10.52 on Friday, despite the stock having declined 38% so far in 2024. The recent developments, including the completion of this major deal and network expansion efforts, may provide a much-needed boost for the company’s future financial performance.
Vodafone Idea’s $3.6 billion network equipment deal with Nokia, Ericsson, and Samsung marks a key milestone in its transformative capex plan, positioning the company to expand its 4G network and prepare for 5G rollout in India.
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