Vodafone share price: Telco teams up with Ericsson to improve 4G coverage
Vodafone (LON:VOD) is working with Sweden’s Ericsson on rolling out a new design for a mini mobile mast in an effort to boost coverage in urban areas in the UK, the Financial Times has reported. The telco is also stepping up its efforts to expand its footprint Down Under, with The Australian revealing that 32 new mobile base stations are expected to come online in the country by the end of next year.
Vodafone’s share price closed 0.2 percent higher at 232.60p in London on Friday, slightly outperforming the broader market. The shares have lost nearly nine percent of their value over the past year, but are up some five percent in the year-to-date.
The FT reported yesterday that Vodafone was working with Swedish telecoms equipment maker Ericsson on rolling out a new design for a mini mobile mast which packs into the size of briefcase to boost coverage in urban areas. The two companies have installed the first mobile mast site in Southwark, London, and will test its performance in the next month before rolling out the system across the city.
With Vodafone lagging behind rival EE, recently acquired by BT Group (LON:BT.A), in rolling out faster mobile speed using 4G networks, it is spending about £2 billion on improving its network and services across the UK.
In a separate development, The Australian reported today that Vodafone was looking to expand its regional mobile footprint Down Under, with 32 new mobile base stations expected to come online by the end of 2017. The base stations, to be built in New South Wales, Tasmania, Queensland and Western Australia, will help the telco target customers outside the metropolitan areas.
“Many customers living in regional and rural Australia don’t have access to reliable coverage, choice of provider or both, and we’re determined to drive change,” Vodafone chief technology officer Benoit Hanssen told the newspaper.
As of 15:07 BST, Monday, 30 May, Vodafone Group plc share price is 232.60p.