Vodafone share price: Telco targets younger users with new brand

Move comes as group looks to boost market share

Vodafone share price: Telco targets younger users with new brand

Vodafone (LON:VOD) has moved to boost its share in the youth market in the UK, unveiling plans to launch a new brand. The new brand, called Voxi, will target customers up to the age of 25.

Vodafone’s share price has been steady in London this Friday, having added 0.34 percent to 221.01p as of 09:28 BST, largely in line with gains in the broader UK market, with the benchmark FTSE 100 index currently 0.24 percent better off at 7,448.74 points. The telco’s shares have lost a little over one percent of their value over the past year, but have added some 10 percent so far in 2017.

Vodafone announced in a statement yesterday that it was launching a new brand, dubbed Voxi, for people aged 25 and under. The new SIM, which will be available from September 8, will let customers use selected social and chat apps as much as they like, without affecting the data allowance.

“Why should young people make do with the same mobile plans as everyone else, when they use their phones differently and often can’t access the best deals?,” Dan Lambrou, head of Voxi, commented in the statement. “We created VOXI, a transparent new mobile service that gives our audience a platform to connect to the things that matter to them, whatever they’re into.”

The Financial Times noted in its coverage of the news that the new sub-brand marks the first leg of Vodafone’s plan to revive its image in the UK market amid concerns that its brand does not really stand for anything.  The blue-chip telco us further looking to boost its presence in the country’s youth market, with the group having already launched sub-brands for younger users in other markets.

The news comes after earlier this week Vodafone urged India’s government to resist pressure from rival Reliance Jio for a cut in mobile interconnection charges. 

As of 10:07 BST, Friday, 01 September, Vodafone Group plc share price is 220.95p.

Top Equities Brokers

0 Brokers added for comparison:
Clear all