Vodafone to invest $1bn in network
Vodafone is set to invest up to $1 billion on its mobile network, in a bid to improve service and increase market share.
The money spent this year will be a record for capital invested by the telco on infrastructure in a single 12-month period, The Australian reports.
Vodafone chief executive Bill Morrow told the News Limited publication that this will serve to put the company on par with other carriers.
He explained: "That [$1 billion investment], coupled with what we have done over the last two years, is enough to bring back the parity level and offer a point of differentiation (in the mobile network)."
This move to stabilise its market share comes after a 2010 to forget for the telco, when $700 million in revenue was lost and more than a million customers left the service.
Comparison and switching service Make It Cheaper's managing director Tim Wolfenden recently explained that the drop in customers was because Vodafone tried to maximise profits without proper investment.
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Posted by Eve Gillespie