British billionaire Sir Richard Branson has finally launched his telecom brand “Virgin Mobile” in India under a franchisee agreement with CDMA major Tata Teleservices.
Under the deal, Tata Teleservices, which is the second largest CDMA operator with 22 million customers, will sell the mobile service under the brand name of Virgin Mobile to target young consumers. The venture will offer music, entertainment and news about Indian film industry, sports and stock market.
This is Virgin Group's seventh launch after Australia, Canada, France, the UK, the US and South Africa, and the investment would be the largest in the country.