Vodafone Idea’s joint venture launched on Monday called the Vi which will bet big on the digital front to stem exits to rivals. They have been in the market since the 90s and have grown to become leading telecom brands in India over the years. With this venture their key focus is going to be networks in the rural areas and digitalization throughout India.
“New brand identity is a reflection of both brands, says Kumar Mangalam Birla” he further said.
Meanwhile, Nick Read, CEO, Vodafone Group said; “It is a time for a fresh start as Vodafone India and Idea Cellular complete the integration of the two entities and rebrand the unified company as Vi”
From the last two years, they had come together but now there is a brand. Vi has also announced that they will continue to partner with the government of India to help in the Digital Economy Mission.
What’s new in Vi?
It’s going to be more focused on customer needs like they used to do individually as well. They are planning to work towards the ever-changing times of digital in India and want to make a significant change in a customer’s life. Vi will focus on addressing concerns dynamically and enable a digital revolution in the country. Talking more about the new brand, Ravinder Takkar, MD and CEO, Vodafone Idea said telco is all set to take the first step to raise prices as a concern.
Takkar said further that Vodafone and Idea came together 2 years ago as an entity but the process, networks and people needed time to bring in a complete brand to the market. A new tariff can help improve things which will bring a significant change in the price point rival Airtel and Jio are at.
As of now Vodafone Idea said they will raise fresh capital which will go up to ₹ 25,000 crore to pay hefty dues. There will be upcoming fundraising that will help give some shape and form to VIL which has encountered huge losses and Average Revenue Per User (ARPU), along with outstanding Adjusted Gross revenue (AGR) is said to be around Rs 50,000 crore.