According to BofA Securities, Reliance Jio and Bharti Airtel are estimated to spend $9.1 billion and $7.7 billion respectively, primarily on 5G capital expenditure (capex) (excluding spectrum costs) through FY’2023-25.
In addition, it also expects Jio to grab a larger chunk of churning top-end customers of Vodafone Idea Limited (Vi) in comparison to Airtel as Jio is likely to offer stronger in-building broadband coverage in densely populated urban pockets, leveraging its standalone 5G network running on efficient 700 MHz airwaves.
Meanwhile, BofA Securities believes that Jio might be able to create an immersive 5G experience on cricket with its Indian Premier League (IPL) rights. That said, BofA Securities has also cautioned that if India fails to witness substantial mass-scale use-cases, Jio’s first mover advantage with 700 MHz band in 5G could be neutralised.
