Undoubtedly, in an era when voice connectivity was the biggest part of the communications pie, Idea Cellular used to retain almost the entire value emerging from such communication.
The network effect used to help them gain scale as terminating a call on their own network was more profitable, rendering an operator with the higher subscriber market share the de facto cost leader, further fueling its market dominance. However, with the emergence of internet and zero termination charges, this network effect has subsided.
Emergence of data has also led to commodification of communication services, necessitating higher incremental investments per unit incremental revenue.
