<div id="readability-page-1"><div id="parent_top_div"><p>Vodafone Idea (Vi) reported a 3 per cent rise in revenue in the fourth quarter of 2025-26, in results released on Saturday. Yet the broader trend tells a different story. Vi's revenue market share stood at 11.48 per cent in Q3 FY26, down from 29.26 per cent at the time of its 2018 merger — the steepest decline among the top three telecom operators, which together hold over 95 per cent of the market. Earlier this month, Vodafone Group was reported to be weighing a stake transfer to shore up Vi's finances.</p> <div><p>  The telecom sector expanded sharply over the past 15 years, with AGR rising 2.5 times between 2009-10 and 2024-25. Reliance Jio's entry in 2016 and subsequent mergers — including Vodafone-Idea and Telenor-Airtel in 2018 — pushed teledensity past 90 per cent during 2016-19.<small> </small></p></div>  <div><p>  Since the merger, Vi has shed nearly 61 per cent of its revenue market share by Q3 FY26, even as Reliance Jio and Bharti Airtel grew their shares by 39 per cent and 53 per cent, respectively.<small> </small></p> </div> <div><p>Vi's subscriber base has halved since the merger, while Reliance Jio's has nearly doubled.<small> </small></p> </div> </div></div>

沃達豐

通信服務 ETF - SPDR

標普電信 ETF - SPDR

電信業 ETF - Vanguard

美國電信股指 ETF - iShares

標普全球電信股指數 ETF - iShares

<p>沃達豐創意（Vi）在 2025-26 財年的第四季度報告了 3% 的收入增長，但自 2018 年合併以來，其市場份額已從 29.26% 驟降至 11.48%，成為主要電信運營商中下降幅度最大的。Vi 的用户基礎已減半，而競爭對手信實電信（Reliance Jio）和巴蒂電信（Bharti Airtel）則顯著增加了市場份額。沃達豐集團正在考慮轉讓股份以改善 Vi 的財務狀況</p>

Datanomics: Vi's market share down 60%, subscriber base halves since merger

Business Standard

沃達豐集團

數據經濟學：Vi 的市場份額下降了 60%，自合併以來用户數量減少了一半