Vodafone Idea could lose 50-70 mn subscribers in 12 months; Jio to gain over half of telco’s users: Fitch
NEW DELHI: Vodafone Idea (Vi) is expected to lose 50 million-70 million subscribers in the next 12 months, after losing about 155 million subscribers in the last nine quarters, Fitch Ratings said. It added that Reliance Jio could gain more than half of Vodafone Idea’s subscriber losses, with the balance going to Bharti Airtel.
“We expect Bharti and Reliance Jio to increase their combined revenue market share to 80% (September 2020: around 74%) in the next 12-18 months,” Fitch Ratings said on Monday.
In 2QFY21 Bharti Airtel added 14 million subscribers, double than that of Jio’s seven million.
Vodafone Idea is rapidly losing market share given its weak balance sheet and limited financial flexibility.