GSM mobile subscribers net adds were 10.3Mn in Oct-09 vs. 8.6MM in Sep-09 (excluding RCOM, Tata DoCoMo), up 20% M/M. The net add numbers saw broad-based increase with ~50% increase in net adds for Vodafone and Aircel (except BSNL that declined ~50%).
- Vodafone India net adds increased 51% to 3Mn, a sharp rise after decreasing for seven months in a row
- Bharti Airtel’s net adds in Oct were up 7% M/M at 2.7Mn (vs. 2.5Mn Sep-09) with the total subscriber base reaching 113+Mn.
- Aircel net adds at 2.0Mn increased 54%M/M from 1.3MM in Sep-09. The company has informed us that it has set 50 Million Customer Target by 2010.
- BSNL net adds decreased 54% M/M, as the company added 0.6Mn in Oct- 09 vs. 1.3Mn/1.4Mn in Sep-09/Aug-09.
- Idea Cellular net adds increased to 1.9Mn up 36% M/M; from 1.4MM in Sep-09
We expect RCOM to gain share from October with its new plan and net-adds for RCOM to move up.