Analysts, however, said that the pace of additions in fixed broadband business remains slower than expectations despite the attractive entry-level plans by the industry.
Jio and Bharti now have 2.3 million and 2.9 million fixed broadband subscribers in the country.
Fixed or wired broadband subs net add came in at 0.38 million month-on-month to 22.7 million, up 1.7% MoM and 18.8% YoY growth in January 2021.
“Jio’s market share improved to 9.9% (up 60bps MoM), and net add stood at0.18mn. Bharti’s net add is slowly inching up at 0.09mn, and market share improved marginally to 12.8% (up 20bps MoM). Others (local service providers) continued to lead net add at 0.11mn in Jan’21,” ICICI Securities said in a note.
As per Nomura’s analysis of Trai data, Bharat Sanchar Nigam Limited’s market share fell further by 65bp mm, but it remains the leader in fixed broadband with ~33% share as compared to 44.4% in September 2019.
Airtel and Jio remain in second and third position with a market share of 12.8% and 9.9% share, respectively in January 2021.