Vodafone-Idea renames as VI, a new brand identity
Vodafone-Idea renames: Vodafone Idea said on Monday that it is rebranding itself, and Vodafone and Idea brands are now “Vi”. Since the merger of Vodafone and Idea Cellular, the company has focussed on “integrating the two large networks, our people and processes”, Vodafone Idea managing director CEO Ravinder Takkar said. The rebranding initiative by the company comes amid intense competition in the country’s highly-indebted telecom sector.
“Vodafone-Idea came together as a merged entity two years ago. We have, since then focused on integrating two large networks, our people and processes. And today I am delighted to present Vi, a brand that will bring important meaning to the lives of our customers. Indians are optimistic and want to get ahead in life. They would love a credible partner to help them on this journey. Vi’s positioning is built around this promise and will focus on meeting the customer needs to help them thrive,” said Takkar.
Vodafone-Idea renames: Vodafone Idea Is Now ‘Vi’
Vodafone-Idea, Chief Executive Officer, Ravinder Thakkar during the virtual conference also said that the company has 1 billion customers who are accessing 4G. The company is backed by 5G infrastructure, but it looks at spreading its 4G services further.
“Today I am delighted to present Vi, a brand that will bring important meaning to the lives of our customers. Indians are optimistic and want to get ahead in life,” said Mr. Takkar.
“They would love a credible partner to help them on this journey. Vi’s positioning is built around this promise and will focus on meeting the customer needs to help them thrive,” he added.
The name Vi is much more than an abbreviation of Vodafone and Idea. Vi read as ‘we’ reflects the collective nature of Indian society, the company said.
Vodafone Plc’s Indian arm had merged with Idea Cellular in August 2018. However, both Vodafone and Idea had maintained two separate brand identities to date.
Kumar Mangalam Birla, Chairman, Aditya Birla Group & Vodafone Idea, on the launch of the new brand said, “India is the 2nd largest telecom market and the largest data consumer, globally. With 1.2 bn Indians accessing voice and data services at the world’s lowest tariffs across 5 lakh villages, the ubiquitous wireless network in India is unmatched for its reach and impact in people’s lives. With our new brand – Vi, we stand committed to partner the Government to accelerate India’s progression towards a digital economy, enabling millions of citizens to connect to the digital revolution and build a better tomorrow.”
Vodafone-Idea board on Friday had approved a plan to raise up to ₹25,000 crores through a combination of equity and debt instruments. The decision came days after the Supreme Court directed telecom operators to pay 10% of total adjusted gross revenue (AGR)-related dues this year, and the rest of the payments in 10 installments, starting next fiscal year.
Vodafone Idea faces outstanding AGR dues of about ₹50,000 crores.
The fund-raising plans are subject to shareholders’ nod and other statutory approvals.
Fund-raising is critical for Vodafone Idea, the third-largest operator in the fiercely-competitive Indian telecom market.
The statutory dues arose after the Supreme Court, in October last year, upheld the government’s position on including revenue from non-core businesses in calculating the annual AGR of telecom companies, a share of which is paid as license and spectrum fee to the exchequer.