Vodafone’s “great gamble” in 2007 seems to have paid off well. The company, which acquired a majority stake in Hutchison-Essar for a massive $11.1 billion, has now a consumer base of 100 million as compared to 28 million in 2007.
It is the third operator to have more than 100 million customers in India after Bharti and Reliance. Vodafone Essar also became the world’s fifth operator with 100 million customers in a single country. It is the country’s second largest operator in terms of revenue.
“This is a significant achievement for us and reflects the trust customers have bestowed on the company,” said Mr Marten Pieters, managing director and CEO, Vodafone Essar. The company has invested Rs 20,000 crore in the last three years to expand its operations.
“In addition to voice and text, Vodafone will also work on investing in platforms that will enable the delivery of Internet and data services to a larger part of the country. Vodafone will also continue to increase investments in new business areas like enterprise and carriers business,” said Mr Pieters. In these three years, India has become the fastest growing market adding over 18 million subscribers in a month.
However, in these years the Indian mobile market has also become overcrowded with over a dozen mobile operators and revenues have taken a hit.
Showing posts with label consumer base. Show all posts
Showing posts with label consumer base. Show all posts
