Videocon to start mobile services by year-end

Consumer electronics major Videocon today said it will roll out its mobile services by the end of this year and is expecting 10 million subscribers in 3-4 years of the launch.

Videocon is also planning to rope in a global service provider as the partner at an appropriate time, the company said in a statement here.

"The company plans to use its extensive all India dealer network of over 10,000 to reach out to the customers and expects to have 10 million subscribers (on conservative basis) in 3-4 years of launch," it said.

Videocon's subsidiary Datacom had yesterday received Letter of Intent from the Department of Telecom for starting GSM-based mobile services on a pan-India basis.

Datacom has deposited the Rs 1,507 crore as license fees alongwith bank guarantee of Rs 847 crore to the DoT.

With an aim to improve efficiency and profitability of the business model, the company also plans to introduce various innovative services, the statement added.

Videocon said a number of local and global banks and financial institutions have expressed interest in providing fund, non-fund and service based support to the project.