Verizon eyes leadership in US prepaid market, will set up CoE in India by end of 2024: EVP

Shankar Arumugavelu, executive vice president and president, Verizon Global Services, said the India Global Capability Center is hiring people to set up teams in Chennai, Hyderabad and Bengaluru. | Photo Credit: Special Arrangement

US telecom major Verizon plans to set up a centre of excellence in India by the end of 2024 to become a leader in the US prepaid market, a top official said.

“India is a huge pre-paid market. The US is a huge post-paid market. So, for us, the area we are doubling down on now is setting up a centre of excellence out of Verizon India for what is called the value segment, which is actually the pre-paid segment,” Shankar Arumugavelu, executive vice president and president, Verizon Global Services, told IANS. the hindu,

He said the India Global Capability Centre (GCC) is currently busy hiring hundreds of people to set up teams in Chennai, Hyderabad and Bengaluru as a lot of innovation is taking place in the prepaid business in this part of the world.

He said it had acquired US wireless service provider TracFone Wireless a few years ago, which is a leading prepaid service provider in the US. He said the aim is to remain a leading postpaid provider as well as become a leading prepaid provider.

Recently, the President of the Value Segment visited GCC along with her leadership team to understand existing capabilities, assess what other companies are doing in the region, and explore how Verizon can set up shop to extract more value from India.

According to him, Verizon India was started around 24 years ago and its primary aim was to become a global company.Cost Arbitrage Center. Today, it is on its way to becoming a strategic asset not only in technology but for the entire company.