Videocon to roll out mobile services by end of 2008

Videocon to roll out mobile services by end of 2008
PTI
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First Published: Fri, Jan 11 2008. 04 25 PM IST
Updated: Fri, Jan 11 2008. 04 25 PM IST
New Delhi: Consumer electronics major Videocon will roll out its mobile services by the end of this year and is expecting 10 million subscribers in 3-4 years of the launch.
Videocon is also planning to rope in a global service provider as the partner at an appropriate time, the company said in a statement on 11 January.
“The company plans to use its extensive all India dealer network of over 10,000 to reach out to the customers and expects to have 10 million subscribers (on conservative basis) in 3-4 years of launch,” it said.
Videocon Industries Ltd’s subsidiary Datacom received Letter of Intent from the Department of Telecom for starting GSM mobile services on a pan-India basis.
Datacom has deposited the Rs1,507 cr as license fees alongwith bank guarantee of Rs847 cr to the DoT.
With an aim to improve efficiency and profitability of the business model, the company also plans to introduce various innovative services, the statement added.
Videocon said a number of local and global banks and financial institutions have expressed interest in providing fund, non-fund and service based support to the project.
In another development, realty major Unitech informed the BSE that the DoT has issued LoIs to its eight subsidiaries for starting mobile services in 22 circles.
The company has paid the required fees of Rs1658crore and bank guarantees of Rs882 cr.
Telecom player Idea Cellular also informed BSE that the company has received LoIs for nine circles and it intends to roll out services in these circles as soon as spectrum is made available.
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First Published: Fri, Jan 11 2008. 04 25 PM IST