Vodafone Idea climbs 2% as telecom company forays into IoT space

Vodafone Idea climbs 2% as telecom company forays into IoT space

NEW DELHI: Vodafone Idea shares climbed over 2 per cent on Friday after the telecom company announced a foray into integrated Internet of Things (IoT) for its enterprises segment, as it looks to transform itself from a traditional connectivity service provider to a technology company.

“With this industry first initiative, VIL has become the only telecom company in India to offer a secure end-to-end IoT solution offering that comprises connectivity, hardware, network, application, analytics, security and support. The offering is designed to simplify and accelerate the digital transformation journey for enterprises,” the company said in a filing to BSE.

Following the development, the stock rose 2.48 per cent to hit a high of Rs 9.67 on BSE.

Chief enterprise business officer, Abhijit Kishore said on Thursday that the company will also look at offering cloud services.

The company wants to get into three specific fields. The first will be the IoT and integrated space, the second on collaboration, which includes a host of SaaS (software as a service), and the third will be cloud services.

“From being a traditional connectivity player, we will be connectivity plus collaboration plus IoT and integrated IoT and a cloud platform,” Kishore said at a virtual conference.

The company announced the launch of IoT solutions that can track the performance of machines and control them remotely.

Vi Business shared that the company has already deployed a smart metering solution for one of the power distribution firms that remotely collect meter readings and also inform the customers about their consumption and load patterns.

Kishore said that the company expects huge growth from integrated IoT solutions in the coming days.

The announcement from

comes a day after Bharti Airtel announced the launch of Airtel IoT – an end-to-end platform with the capability to connect and manage billions of devices and applications.

Kishore said that the IoT solutions offered by Vi Business are different from those of the competition.

He claimed that Vi Business is a significant player in the automotive space and has around 85-90 per cent of business in the connected car segment.

“All the major automotive industry manufacturer – Tata Motors, Kia, Hyundai, Daimler etc, we are working with them,” Kishore said.

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