Vodafone-Idea has signed a deal worth $3.6 billion (Rs 30 thousand crores) with Nokia, Ericsson and Samsung for the supply of 4G and 5G network equipment over three years. This is the first step towards the implementation of the company's $6.6 billion (Rs 55 thousand crores) three-year capex plan.
The company's target with this plan is to increase the 4G population coverage from 1.03 billion (103 crores) to 1.2 billion (120 crores), launch 5G in key markets and increase capacity under data growth.
We are on our journey to VIL 2.0: CEO Akshay Mundra Akshay Mundra, CEO, Vodafone Idea Limited, said, 'We are committed to investing in emerging network technologies to deliver best-in-class experience to our customers. We have started the investment cycle. We are on our journey to VIL 2.0 and from here VIL will make a smart change to participate in industry growth opportunities.
Nokia and Ericsson have been our partners since our inception and this is another milestone in that partnership. We are delighted to begin our new partnership with Samsung. We look forward to working closely with all our partners as we move into the 5G era.”
Vodafone-Idea shares rose 1.35% on Friday Vodafone-Idea's stock closed at Rs 10.52 on Friday with a gain of 1.35%. With this, the company's market cap has reached Rs 73 thousand crores. The company's stock has fallen by 35% in the last one month and 20% in six months. At the same time, the company's stock has fallen by about 7% in one year.
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