VimpelCom has announced the company’s decision to rebrand itself as “Veon”, reported Propakistani. The move has been taken in the wake of the company decision to serve as a platform to provide a basis for a comprehensive set of digital solutions that the group is hoping to deploy in all the markets where it operates.
The group is yet to elaborate on the functionality and salient features it will offer but said that Veon will be a messaging platform that will support various in-house solutions — such as maps, payment solutions, music, video streaming etc. In addition, it will also provide third party solutions such as PayPal, MasterCard payments etc.
The move will potentially make Veon (previously VimpelCom), a tech company instead of a conventional telecom operator, with the Veon group set to compete with the likes of Facebook, Google, Amazon etc.
The Group has disclosed that Veon will be rolled out in all the markets, including Pakistan, by the end of 2017.
Vimpelcom reported an organic revenue growth of 15.7pc YoY at its Pakistan’s operations and reported a YoY growth of 44.2pc to Rs 38.7b in the 4th quarter of 2016.