Panicking Vodafone-Idea users rush to port to Airtel and Reliance Jio
By MYBRANDBOOK
Amidst fear of Vodafone- Idea leaving the Indian market, users are looking to port their network to Airtel and Reliance Jio.
If Vodafone goes belly up, its 336 million subscribers will be up for grabs. It’s a big chunk in the market that will now have to decide between Bharti Airtel and Reliance Jio.
This is surely good news for both, as India’s telecom sector will effectively become a duopoly that will lead to increase in traffic hurting the customers.
A quick review of Vodafone’s social media account shows that more users than usual are submitting request to port their numbers to other telecom services. Although the users did not specify the reason for leaving the public forum, Vodafone is asking them to send a direct message explaining why they want to leave before approving portability.
Vodafone idea clarified that currently they are unable to comment on the issue or frequency of people porting their connections to other networks ahead of earnings report.
Vodafone Idea subscriber base has been continuously falling since March 2019. In November, its gross subscriber base lost 3.64 million users – more than half of whom were from rural regions. Industry analyst Emkay feels this may be largely due to last leg of Vodafone subscriber’s base clean up.
The company has to pay a half trillion rupees to the government in unexpected dues related to licencing fees and spectrum usage charges, in response to the Supreme Court Verdict. This comes at a time when the company already has a back breaking debt of Rs 98, 000 crore.
Shareholders of these three companies have already priced in a duopoly in Indian telecom since Supreme Court of India declined a review petition.
Last year Vodafone’s CEO Nick Read said that the company could exit the market, if the government does not offer any relief. Even though he later apologised and clarified that Vodafone has no plans to leave India; many analysts still feel that the company is tethering on the edge of survival.
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