Reliance Jio and Bharti Airtel together will have about 81% market share by adjusted revenue by FY25, making the competition for Vodafone Idea tougher in the coming quarters, said market analysts, pointing to the need for the No 3 carrier to launch 5G services at the earliest.
“Vodafone Idea’s delayed 5G rollout could trigger further share consolidation with leading operators R-Jio and Bharti which are ramping up 5G services. The top two operators continue to dominate with combined 77% of sector revenue, which we expect will rise to 81% by FY25CL. We remain positive on R-Jio and Bharti," analysts at CLSA said in a note.
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