On Monday, Vodafone Idea Limited (VIL) communicated its new unified consumer brand identity and positioning through a virtual launch.
"Two of India's most loved and admired brands are now 'Together For Tomorrow' giving birth to a new brand called "Vi" (read as "We"). A brand with its eyes set on the future, it is built for and around customers," the company said in its statement.
The integration of two brands is a culmination of the largest telecom integration in the world, the company's statement said.
"Vodafone Idea came together as a merged entity two years ago. We have, since then focussed on integrating two large networks, our people and processes. And today I am delighted to present Vi, a brand that will bring important meaning to lives of our customers. Indians are optimistic and want to get ahead in life. They would love a credible partner to help them on this journey. Vi's positioning is built around this promise and will focus on meeting the customer needs to help them thrive," said Ravinder Takkar, MD & CEO of Vodafone Idea Limited.
"The name Vi is much more than an abbreviation of Vodafone and Idea. It is shorter, simpler and while referencing the origins of the two brands, Vi (read as "we"), also reflects the collective nature of Indian society. It is not just about me, it's especially about "we"," the company said in its statement.
As part of its rebranding, the company has launched an application to enable mobile users to create and download their own exclusive and customized Vi Tune. Any mobile user can download the Vi app to use this feature or visit the Vi website (www.MyVi.in).
Promise of faster network
Vodafone Idea also said that it continues to invest in 4G to increase coverage and capacity. "VIL's 4G population coverage now reaches 1 billion people - double the coverage at the time of merger announcement. With the successful integration of two strong networks and deployment of new age technologies such as Dynamic Spectrum Re-farming (DSR), M-MIMO, TDD, Small Cells, Cloud and OpenRAN, Vi customers will now be able to enjoy the combined strength of a high powered, unified network," it said.
"Vi customers will enjoy fastest 4G speeds across many circles, top cities and leading metros including Delhi and Mumbai," it said.
Ahead of the announcement, shares of the telecom operator opened 10 percent higher at Rs 13.25, however, it pared gains later.
Further, on 4 September, the telecom operator's board approved raising funds to the tune of Rs 25,000 crore. It will be raising up to Rs 15,000 crore through NCDs and up to Rs 15,000 via equity shares, the company said in a stock exchange filing.
Vodafone Idea has seen its user base plunge to nearly 280 million as on 30 June 2020 from 408 million at the time of merger after the entry of Reliance Jio in the Indian telecom market, triggered by heavy market-share declines in urban circles.