Mon Sep 23 07:11:50 UTC 2024: ## Vodafone Idea Signs $3.6 Billion Deal for Network Equipment, Set to Boost 4G and Launch 5G Services
**Mumbai, India** – Telecom giant Vodafone Idea (VIL), burdened by debt, has finalized a significant deal worth ₹30,000 crore ($3.6 billion) with Nokia, Ericsson, and Samsung. This agreement secures the supply of 4G and 5G network equipment for the next three years.
The deal marks the first step in VIL’s ambitious three-year capital expenditure (capex) plan of ₹55,000 crore ($6.6 billion). This investment is geared towards expanding 4G coverage to 1.2 billion Indians from the current 1.03 billion, launching 5G services in key markets, and boosting capacity to meet growing data demand.
“Vodafone Idea has finalized a deal worth approximately $3.6 billion (approximately ₹30,000 crore) with Nokia, Ericsson, and Samsung for the supply of network equipment over a period of three years,” a VIL statement revealed.
The statement highlighted that these new long-term contracts will commence in the upcoming quarter. VIL emphasized its commitment to expanding 4G services to 1.2 billion Indians as a top priority.
These contracts are expected to equip VIL with the latest, cutting-edge technology, leading to an improved customer experience. The company also plans to leverage insights gained from the Indian market over the past two years to customize service offerings for both 4G and 5G technologies, enabling a more flexible and modular rollout plan.
The use of energy-efficient new equipment will further contribute to reduced operational costs.
The news of this deal is anticipated to boost Vodafone Idea shares on the stock market, following a 1% rise on Friday, closing at ₹10.48 on BSE.
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