Airtel Vodafone Price Hike: Airtel on Monday said it will start increasing rates for mobile services in December. The telecom sector is highly capital intensive with fast-changing technology cycles that require continuing investments and therefore, extremely important that the industry remains viable to support the vision of Digital India, Bharti Airtel said in a statement on Monday.
“Accordingly, Airtel will appropriately increase price offerings in the month beginning December,” it said in a statement.
Bharti Airtel, which has been hit hard by the Supreme Court ruling on statutory dues, last week posted highest ever loss of Rs 23,045 crore in the three months ended September.
The company also said that it understands that telecom regulator Trai is likely to initiate a consultation for bringing rationality in pricing in the Indian mobile sector, which has been operating at prices that have been eroding its viability.
Earlier on Monday, Vodafone Idea announced it will increase mobile service rates from December 1 in the wake of ongoing financial stress. “To ensure that its customers continue to enjoy world-class digital experiences, Vodafone Idea will suitably increase the prices of its tariffs effective December 1,” the company said in a statement today. The debt-ridden Vodafone Idea, however, did not disclose the range or details of the proposed tariff hike. Vodafone-Idea (VIL) on Monday advanced nearly 18 per cent on the NSE over investors renewed interest in telecom stocks over a possible government-led revival.
Jio Will Also Increase Tariffs:
Reliance Jio, the country’s largest telecom operator, followed rivals Bharti Airtel and Vodafone Idea in plans to raise consumer tariffs, saying the move is necessitated by the need to make fresh network and technology investments.
“Like other operators, we will also work with the government and comply with the regulatory regime to strengthen the industry to benefit Indian consumers and take measures, including appropriate increase in tariffs in next few weeks,” the company said in a statement that came a day after Airtel and Vodafone Idea announced plans to raise consumer tariffs from next month.
Jio, however, said that the tariff hike will be done “in a manner that does not adversely impact data consumption or growth in digital adoption and sustains investments.”
The company said it plans to compete with rivals on the basis of quality and service in the marketplace. “Jio will always keep the customer at the centre of everything and ensure that the customer continues to benefit the most.”
