There have been reports of Vodafone Idea (Vi) raising tariff rates for a long time. Now a report by ET Telecom has shown that the telecom company can increase tariff rates by 15 to 20 percent. Two people involved in the matter told our affiliate Economic Times that tariff rates would be increased in late 2020 or early 2021.
Explain that while announcing the quarterly results ended on September 30, 2020, Vi executives had said that before Bharti Airtel and Reliance Jio, the company can increase the tariff price. As of now, Airtel and Jio are quiet on tariff hike but Vodafone Idea is facing many financial pressures. Apart from this, the company is also continuously losing subscribers.
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Speaking to ET Telecom, a person associated with the case said, “The company may increase tariff rates as companies are currently waiting for the floor price to be decided by the Telecom Regulatory Authority.” The other source said that Vi will raise tariff prices in December. Let us tell you that many analysts had speculated that Vodafone Idea could hike tariff considering its financial condition. Recall that last year, the first telecom operator to announce an increase in the number of tariffs became the company.
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There are also reports that Bharti Airtel and Reliance Jio will wait a little longer to increase the tariff price. In addition, the report also stated that Vi has already conducted internal consultations related to the tariff hike. Vodafone Idea can see tariff hike of up to 15 percent. Last time, the company had increased tariff rates by 14 per cent.
It is worth noting that Vodafone Idea is already facing difficulties in the industry. Looking at the subscription data for August 2020 released by TRAI, it is found that the company has lost more than 1 million existing users.