Debt-ridden Indian telecom operator Vodafone Idea has inked a deal worth $3.2 billion with Nokia, Ericsson and Samsung to bolster the firm's 4G and 5G presence in the country, according to a bourse filing. 

According to the statement, the company has continued its existing business relationship with Nokia and Ericsson, while the telecom firm also onboarded Samsing as a new partner. 

"We are committed to invest in emerging network technologies to provide a best-in-class experience to our customers. We have kickstarted the investment cycle. We are on our journey of VIL 2.0 and from hereon, VIL will stage a smart turnaround to effectively participate in the industry growth opportunities," said Akshaya Moondra, CEO of Vodafone Idea Limited.

He added: "Nokia and Ericsson have been our partners since our inception and this marks another milestone in that continuing partnership. We are pleased to start our new partnership with Samsung. We look forward to working closely with all our partners as we move into the 5G era." 

Vodafone Idea's 3-Year Capex Plan

The deal is the first step in the company's three-year capex plan which has a planned budget of $6.6 billion. 

The capex program is aimed at expanding the company's 4G population coverage from 1.03 billion to 1.2 billion, launching 5G in key markets and capacity expansion in line with data growth.

In the bourse filing, Vodafone Idea said that its top priority is to expand 4G for 1.2 billion Indians. 
It added that the contracts will allow the firm to quickly capitalize on the latest state-of-the-art equipment to offer enhanced customer experience. 

Vodafone Idea Eyes Rebound in Indian Market

Vodafone and Idea were two separate entities in the Indian telecom market, and had a large customer base. 

However, after the launch of Jio by Reliance, things took an unexpected turn, as hundreds of thousands of customers opted the Reliance product due to its affordability and data availability. 

In 2018, Vodafone India and Idea Cellular merged, and in 2020, the two separate brands rebranded as Vodafone Idea. 

Currently, Vodafone Idea has a subscriber base of 217.30 million, making it the third-largest mobile telecommunications network in India and the 12th-largest mobile telecommunications company in the world.