Reliance Jio has taken over the market with its free services (initially) and with exciting offers, raising over 100 million users in a short interval of time. This has obviously caused a huge loss for other telecom operators, especially to the most reliable network, Airtel.
Airtel’s Bruising Competition With Reliance Jio
Airtel has reportedly undergone a huge loss in their Q4 segment, as the company has heated up the competition with newcomer Reliance Jio, with aggressive tariff plans, which are of course against their comfort zone. This competition has helped to bring disruptive pricing, that we have never taste before.
Though Airtel has seen a marginal rise in profits in their African venture which helped offset the losses at home, back in March, Bharti Airtel had to sell 10.3 per cent of its tower arm to cut some of its huge debt and in the wake of Jio’s stiff competition.
Annalisa Di Chiara, Airtel’s Vice President & Senior Credit Officer, said;
We expect Bharti’s profitability to remain under pressure as competition remains at heightened levels over the near term.
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