The telecom sector saw its active subscriber base shrink for the fourth consecutive month in October 2024, declining by 3.3 million subscribers. However, Bharti Airtel continued to gain momentum, narrowing its market share gap with Reliance Jio. Airtel’s wireless broadband subscriber base also grew, reflecting its resilience amid a challenging market environment.
Reliance Jio’s share of wireless subscribers dropped to 40%, down by 21bps MoM, while Airtel’s rose to 33.5%, up by 26bps MoM. VIL’s subscriber losses continued, with its market share dipping to 18.3%. Notably, Airtel added ~1 million wireline broadband subscribers, significantly outpacing its recent trends.
Morgan Stanley highlights that Airtel’s strategic focus on premium customer acquisition, coupled with its strong broadband additions, positions it for sustained growth. The firm also notes that tariff hikes have played a pivotal role in driving Airtel’s recent performance.
