Videocon completes mobile market exit with shutdown in Punjab

18 Jan 2017

Quadrant Televentures has announced that it will be closing down mobile services in its last remaining circle, Punjab, with effect from midnight on 15 February 2017. Business Insider India writes that the company, which was offering services under the Videocon Telecom brand of its parent, has requested its subscriber base of roughly three million users to switch to other providers. Sister company Videocon Telecom shuttered its mobile business in May 2016 after selling its spectrum holdings in its six circles to market leader Bharti Airtel. Commenting on the move, Videocon CEO Arvind Bali explained that the group is exiting its spectrum-oriented businesses: ‘We’re going in non-spectrum businesses because spectrum is expensive. We have started 14 new businesses including surveillance and security, enterprise and broadband, which needs less investment and provides quicker returns.’ The official added that the company will not be looking to continue offering mobile services as an MVNO.