Vodafone Idea Limited (VIL), the third-largest telecom operator, still has many problems to solve. The telco has seen many positives recently. But they are not enough to carry the business over. Recently, the government relaxed the AGR dues payment for Vi for 10 years. Now for the next 10 years, the telco's past AGR dues are frozen, and it doesn't have to worry about that. This is a great thing for the telecom operator. What's still something which investors can't ignore is the falling user base.
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Vodafone Idea's wireless user base reduced by close to a million users in December 2025. This is not a good sign for the operator. According to the TRAI (Telecom Regulatory Authority of India) report, Vi's market share in the wireless subscriber segment stands at a meagre 15% now. Jio and Airtel combined own close to 80% of the market share.
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Vodafone Idea's subscriber base needs to grow. Before that even takes place, the telco needs to at least lower the churn rate, as the subscribers look pretty unhappy given the churn rate has consistently been more than 4% for several quarters now. Even in the wireline segment, the telco's market share is too small, and in December 2025, it lost susbcribers there too.
