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(Photo= Yonhap news) |
[Alpha Biz= Reporter Kim Jisun] Samsung Electronics has signed a telecom equipment supply contract with Vodafone Idea (VI), India's third-largest telecom operator.
This marks Samsung's collaboration with all three of India’s major telecom operators. According to Bloomberg on the 22nd (local time), Vodafone Idea has entered into a $3.6 billion (approximately 4.8 trillion won) agreement with Nokia, Ericsson, and Samsung Electronics to upgrade its 4G services and introduce 5G services in key areas over the next three years.
While Nokia and Ericsson were already suppliers for Vodafone Idea, Samsung Electronics is a new addition.
Vodafone Idea was formed in 2018 after Vodafone UK acquired Idea Cellular, a major Indian telecom company. The company has over 100 million subscribers and is India’s third-largest telecom operator.
This deal is the first phase of a larger three-year capital expenditure plan that could reach up to $6.6 billion. India, with over 1.1 billion wireless subscribers as of 2022, is the second-largest mobile telecommunications market in the world. Equipment delivery is expected to begin in the next quarter.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
