Vodafone Idea, one of the biggest telecom operators in India has recently rebranded as ‘Vi’. This move seems for a fresh beginning for the company after the duo merged in the nation. It’s been 3 years since the British telecom company Vodafone Group and the tycoon Kumar Mangalam Birla’s Idea Cellular united in India.
On Monday i.e., on 7th September 2020, Vodafone Idea Limited rebranded itself as ‘Vi’. Further, the company announced that rebranding the firm is the final step towards collaborating with the largest telecom brands in the country. Both the brands indeed have unique significance and vast popularity among its customers.
Ravindar Takkar, the Chief Executive of Vodafone Idea said, ‘The integration of the two brands is a culmination of the largest telecom integration in the world. It’s time for a fresh start.’ On the other hand, the CEO of Vodafone Group, Nick Read said at a virtual conference on Monday that, ‘As the integration of two businesses is now complete, it’s time for a fresh start. That’s why we believe that now is the perfect time to launch Vi, one company which provides the strength of Vodafone India and Idea.’
With the emergence of the Reliance Jio in the telecom industry, Vodafone Idea, the biggest telecom operator in India that had more than 400 million subscribers has lost about 100 million subscribers recently. To get back its earlier prominence and popularity in the country, Vodafone Idea has been striving hard. By rebranding Vodafone Idea, the company seeks a fresh start.
Kumar Mangalam Birla, the Chairman of Idea Cellular wrote in the yearly report of the company to the shareholders that reads, ‘Your company is also embarking on a new brand identity to mark the culmination of the integration exercise bringing to customers the best of both brands.’ During the conference, Kumar said that India is the 2nd biggest telecom market and largest data consumer across the world.
With more than 1.2 billion Indians utilizing voice and data services at the world’s diminished tariffs across 5 lakh villages, the prevalent wireless network in the country is truly innovative and exceptional for its reach and influence in people’s lives. He further added, ‘With our new brand — Vi, we stand committed to partner with government to accelerate India’s progression towards a digital economy, enabling millions of citizens to connect to the digital revolution and build a better tomorrow.’
After the integration, the Vodafone Idea hasn’t still witnessed a profit. However, the company said that it will continue to invest in 4G wireless technology as it reaches about 1 billion population across the nation. The move of the company towards rebranding has rolled out as the firm plans to raise to ₹25,000 crores to fulfill the Government dues, invest in operations, and pay interest. As per the verdict of the Supreme Court, the company must pay the dues over 10 years.
As per the report, Vodafone Idea plans to raise hybrid debt via convertible bonds initially. The latest move of the company i.e., rebranding as ‘Vi’ seems to be the company’s strategy is gearing up for the telecom combat. Stay tuned to this website to get the latest updates about the telecom services, exclusive mobile plans, and more.