26 September 2024
Vodafone Idea has concluded a $3.6 billion telecoms equipment deal with Ericsson, Nokia, and Samsung.
The deal will see the trio of vendors provide Idea with equipment over the next three years. Idea will use this equipment to expand its 4G population coverage from 1.03 billion to 1.2 billion, as well as launching 5G in selected markets and expanding existing capacity.
Idea says this will not only allow the company to offer more advanced mobile services to a wider audience, but will also improve the network’s power efficiency, thereby delivering cost savings.
The deal is the first time Idea has worked with Samsung for networking equipment. Ericsson and Nokia, however, are both long-term partners with Idea.
“We have kickstarted the investment cycle. We are on our journey of VIL 2.0 and from hereon, VIL will stage a smart turnaround to effectively participate in the industry growth opportunities,” said Vodafone Idea CEO Akshaya Moondra. “Nokia and Ericsson have been our partners since our inception and this marks another milestone in that continuing partnership. We are pleased to start our new partnership with Samsung. We look forward to work closely with all our partners as we move into the 5G era.”
The deal is funded via the $4.4 billion Idea raised in April and May via equity financing.
