VI signs huge agreement for 4G and 5G expansion
New Delhi: Vodafone Concept Contracts worth around Rs 30,000 crore have been awarded Nokia, Ericssonand Samsung For 4G and 5G network equipment for the next three years. The move is part of a three-year plan announced by the company capital expenditure The plan is around Rs 55,000 crore.
“Vodafone Idea (“VIL” or the “Company”) has entered into a major agreement worth approximately US$3.6 billion (approximately Rs. 30,000 crore) with Nokia, Ericsson and Samsung to supply network equipment over three years. The transaction marks the company’s first step towards launching a transformative three-year capital expenditure program of approximately $6.6 billion (Rs 55,000 crore),” the company said in a release.
The statement further revealed that the measure aims to expand 4G coverage from 1.03 billion people to 1.2 billion people and enhance the ability to support data growth.
“The company continues to work with existing long-term partners Nokia and Ericsson, and has added Samsung as a new partner,” the company said. “The company’s top priority is to expand 4G coverage to 1.2 billion Indians,” the company said.
After recently raising equity of Rs. 24,000 crore and additional spectrum acquisition. In the June 2024 auction, Vodafone Idea made a series of rapid capital expenditures to enhance its network capabilities, worth $35 billion. The company deployed more spectrum at existing sites and built new sites, increasing capacity by about 15% and expanding population coverage by 16 million by the end of September 2024.
These infrastructure upgrades are already improving customer experience in select areas where deployment has been completed. Meanwhile, Vodafone Idea is finalizing long-term contracts to sustain its ongoing expansion efforts.
CEO six, Ltd Akshaya Moondra said, “We are committed to investing in emerging network technologies to provide best-in-class experience to our customers. We have started the investment cycle. We are embarking on the VIL 2.0 journey and from now on, VIL will stage a smart transformation to effectively participate in industry growth opportunities.
He further spoke about the contracts with partners, adding in the statement: “Nokia and Ericsson have been our partners since our inception and this marks another milestone in the ongoing partnership. We are delighted to partner with Samsung Start a new partnership.
“Vodafone Idea (“VIL” or the “Company”) has entered into a major agreement worth approximately US$3.6 billion (approximately Rs. 30,000 crore) with Nokia, Ericsson and Samsung to supply network equipment over three years. The transaction marks the company’s first step towards launching a transformative three-year capital expenditure program of approximately $6.6 billion (Rs 55,000 crore),” the company said in a release.
The statement further revealed that the measure aims to expand 4G coverage from 1.03 billion people to 1.2 billion people and enhance the ability to support data growth.
“The company continues to work with existing long-term partners Nokia and Ericsson, and has added Samsung as a new partner,” the company said. “The company’s top priority is to expand 4G coverage to 1.2 billion Indians,” the company said.
After recently raising equity of Rs. 24,000 crore and additional spectrum acquisition. In the June 2024 auction, Vodafone Idea made a series of rapid capital expenditures to enhance its network capabilities, worth $35 billion. The company deployed more spectrum at existing sites and built new sites, increasing capacity by about 15% and expanding population coverage by 16 million by the end of September 2024.
These infrastructure upgrades are already improving customer experience in select areas where deployment has been completed. Meanwhile, Vodafone Idea is finalizing long-term contracts to sustain its ongoing expansion efforts.
CEO six, Ltd Akshaya Moondra said, “We are committed to investing in emerging network technologies to provide best-in-class experience to our customers. We have started the investment cycle. We are embarking on the VIL 2.0 journey and from now on, VIL will stage a smart transformation to effectively participate in industry growth opportunities.
He further spoke about the contracts with partners, adding in the statement: “Nokia and Ericsson have been our partners since our inception and this marks another milestone in the ongoing partnership. We are delighted to partner with Samsung Start a new partnership.
