What Vodafone Iceland does

Sýn hf., trading commercially as Vodafone Iceland, is an integrated Icelandic telecommunications and media company headquartered at Suðurlandsbraut 8, 108 Reykjavík. It provides mobile telephony, fixed 5G and fiber broadband, IPTV, and the SÝN+ streaming platform (including SÝN Sport and SÝN Sjónvarp) to Icelandic consumers, SMEs, and enterprise customers, and supplies wholesale capacity to MVNOs. The company operates a mobile network of roughly 180 4G and 200+ 5G transmitters, with 3G scheduled for shutdown in March 2026, and shares passive network infrastructure with Nova through the Sendafélagið joint venture.

Beyond connectivity, Sýn runs a distinct media business comprising Vísir.is (Iceland's most-read online news property) and three radio stations (Bylgjan, FM957, and X-ið), giving it a cross-media advertising distribution footprint that no other Icelandic telecom competitor matches. It also holds exclusive sports and entertainment rights, including Viaplay content and KKÍ basketball, which it bundles into converged mobile/internet/TV offers and distributes onto smart-TV platforms such as Samsung.

Sýn's revenue model combines recurring monthly subscriptions across mobile, fixed internet, and TV tiers; usage-based roaming and tourist SIM revenue from inbound visitors; B2B enterprise service contracts; wholesale fees from MVNO partners; and advertising revenue across its digital and radio assets. The company operates under the Vodafone global brand partnership, which provides brand recognition, technology references, and procurement scale advantages within a small domestic market of approximately 380,000 people.

Name

Vodafone Iceland

Legal name

Sýn hf.

Website

https://vodafone.is

Company type

Private

Founded year

1998

Operating status

Operating

Headcount range

251–500 employees

Short description

Sýn hf. (Vodafone Iceland) is an integrated Icelandic telecom and media operator offering mobile, 5G/fiber internet, IPTV, and the SÝN+ streaming platform to consumers, businesses, and tourists, and running Vísir.is plus three radio stations.

Ownership category

akta.pro rank

Product category

Telecommunications Services

NAICS

Wireless Telecommunications Carriers (except Satellite) (517112), Wired and Wireless Telecommunications Carriers (except Satellite) (51711)

SIC

Radiotelephone Communications (4812)

akta.pro primary industry

Wireless ISPs (WISPs) & Fixed Wireless Access Providers (HDAIADAD)

Keywords

• Mobile telecommunications
• Home internet services
• Television streaming
• Prepaid mobile plans
• Enterprise connectivity

Headquarters

HQ city

Reykjavík

HQ country

Iceland

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Infrastructure, Technology or R&D, Operations, Personnel, Marketing or Sales

Revenue model

1. Mobile Services: Recurring subscription revenue from mobile voice, SMS, and data services including prepaid (Frelsi) and postpaid plans. Revenue from domestic and international roaming charges.
2. Home Internet Services: Monthly subscription fees for 5G home internet and bundled fiber packages. Includes equipment rental for routers.
3. Television Services: Subscription revenue for SÝN+ streaming, SÝN TV channels, SÝN Sport, and Viaplay. Also transactional revenue from movie rentals with over 4,000 titles.
4. Advertising: Revenue from television, online, radio, and podcast advertising across Sýn's media properties including Vísir.is (most-read news site in Iceland), Bylgjan, FM957, and X-ið radio stations.
5. International Roaming (Reiki): Per-day charges for travel packages: 1,490 kr/day outside Europe with 1GB data, 990 kr/day in USA/Switzerland with 5GB data. EU/EEA usage included in regular plans with fair usage policy.
6. B2B Enterprise Services: Dedicated business service line at 599-9500, corporate mobile plans, and IoT/connectivity solutions for businesses.
7. Wholesale: Wholesale services for other telecommunications providers and MVNOs.

Pricing tiers

Go-to-market motion1 record

Distribution channels8 records

Marketing channels7 records

Core offering

Sýn (Vodafone Iceland) is a full-service Icelandic telecommunications and media provider offering mobile voice, SMS, and data services over a 4G/5G network, 5G fixed-wireless home internet with WiFi 7 hardware, linear and streaming television (SÝN+ and SÝN Sport), and digital advertising across its owned media properties. The company sells bundled packages (Pakkar) combining mobile, internet, and TV, alongside prepaid options, enterprise connectivity, and international roaming services for residents and tourists.

Product overview

Sýn (Vodafone Iceland) operates as a unified telecommunications and media company offering a portfolio of interconnected services. The core offerings include mobile services (farsími with prepaid Frelsi and subscription plans), 5G high-speed internet with WiFi 7 hardware, and television services. The TV portfolio consists of SÝN+ streaming (the largest Icelandic streaming platform), SÝN Sport (sports channel with 2,000+ live broadcasts), SÝN Sjónvarp (linear TV with 50+ stations), and Viaplay add-on. These services can be purchased individually or bundled in Pakkar packages. Additional services include international roaming (Reiki), eSIM (eittNúmer), youth mobile plans (Krakkakort), and the 2F1 loyalty program. The company also operates news portal Vísir.is and radio stations Bylgjan, FM957, and X-ið.

Differentiator

Problem solved

Functional benefit

Products and services

• SÝN+ Iceland's largest streaming service offering hundreds of hours of Icelandic and international programming, including Icelandic series, entertainment shows, documentaries, movies, and foreign content with Icelandic dubbing.
• SÝN Sport Sports television channel featuring over 2,000 live broadcasts annually, including Icelandic football, basketball, English Premier League, and UEFA Champions League coverage.
• SÝN Sjónvarp Linear television service providing access to all open Icelandic channels plus over 50 subscription stations, including rental content with over 4,000 titles, priced at 2,590 kr/month.
• Viaplay add-on Streaming add-on bundled within Sýn's TV packages (Góður, Betri, Bestur) providing series, award-winning movies, crime dramas, family content, Formula 1, FA Cup, and Bundesliga.
• Farsími (Mobile Services) Mobile telecommunications services with prepaid (Frelsi) and postpaid subscription plans, unlimited calls and SMS, data packages, eSIM support, and youth plans for individuals and businesses in Iceland.
• 5G Net (5G Home Internet) Unlimited 5G high-speed home internet service with WiFi 7 router included, positioned as an alternative to fiber for many Icelandic households, with over 200 5G transmitters deployed.
• Frelsi (Prepaid Mobile) Prepaid mobile service with airtime and data top-up options, travel packages, and recharge functionality for tourists and locals.
• Krakkakort Child mobile plan for users under 18 years of age, provided free as an add-on to subscriber parents, with unlimited minutes and SMS, 2GB of data per month, and parental controls.
• eSIM / eittNúmer Digital SIM service allowing phone and smartwatch to share the same number and enabling multiple numbers in a single device.
• Reiki (International Roaming) International roaming service for travel within EU/EEA (included in regular plans) and worldwide, with per-day travel packages such as 1,490 kr/day outside Europe with 1GB data and 990 kr/day in USA/Switzerland with 5GB data.
• WiFi 7 Router WiFi 7 network equipment bundled with 5G internet subscriptions, with setup included and an optional WiFi extender available at 800 kr.
• Sjónvarpsapp (TV App) Multi-platform streaming application for Sýn TV available on Android, iOS, Android TV, Apple TV, and Amazon Fire, with web streaming at sjonvarp.syn.is and planned Samsung and LG TV app versions.
• 2F1 (2-for-1 Offers) Customer loyalty program offering 2-for-1 deals at 40+ Icelandic partner restaurants, cinemas, entertainment venues, gyms, and tourism operators.
• Vodafone Premium Starter Pack Prepaid tourist SIM card including 50 minutes of overseas calls to selected countries, distributed on Icelandair flights and at retail locations.
• Pakkar (Bundled Packages) Household bundles combining unlimited mobile, internet, and TV/SÝN+ content at discounted monthly rates, marketed as "sögulegur díll" (historic deal).

Quantifiable outcome

• Iceland's largest streaming service with hundreds of hours of programming
• +4 more outcomes

Named customers5 records

Segments5 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature8 records

Partnerships

15 partnerships are on record, tiered minor and core.

• Elko Stores (Keflavík Airport)minorChannel Partner/ Reseller/ DistributorAuthorized reseller of Sýn prepaid starter kits at Keflavík International Airport for tourists and travelers arriving in Iceland
• 10-11 Convenience StoresminorChannel Partner/ Reseller/ DistributorNationwide convenience store chain selling Sýn prepaid SIM cards and top-up vouchers
• N1 Petrol StationsminorChannel Partner/ Reseller/ DistributorNationwide petrol station network selling Sýn prepaid products
• GEMSAminorStrategic or Co-development PartnerDevice buyback partner that purchases old smartphones from customers for recycling or resale; enables Sýn's 'Notad upp i nytt' (trade-in) program for device upgrades
• Sambíóin CinemaminorGTM or Marketing PartnerCinema chain partner in 2F1 (buy-one-get-one-free) program; 2-for-1 movie tickets valid Mondays and Wednesdays
• Subway IcelandminorGTM or Marketing PartnerRestaurant partner in 2F1 program; 2-for-1 on all 12-inch subs weekdays 14:30-17:00
• Volcano Express (Harpa)minorGTM or Marketing PartnerEntertainment partner; 2-for-1 on shows Sundays through Thursdays 17:00-20:00
• World Class GymsminorGTM or Marketing PartnerFitness partner with 50% discount on weekly passes and 20% off 3-month memberships; also 2F1 for Laugar Spa 'better room'
• PizzanminorGTM or Marketing PartnerPizza restaurant with 40% discount on menu pizzas using code 'SYN' when ordering online or via app
• Viking RaftingminorGTM or Marketing PartnerAdventure tourism partner; 2-for-1 on Jökulsá austari rafting trips on Saturdays using code TWO4ONE
• Hotels and Tourist Information CentersminorChannel Partner/ Reseller/ DistributorNationwide network of hotels and tourist information centers selling Sýn prepaid starter kits to international visitors
• ViaplaycoreStrategic or Co-development PartnerContent partnership providing Formula 1, FA Cup, Bundesliga, movies, and series; included in 'Góður', 'Betri', and 'Bestur' TV packages
• Sendafélagið (Shared Network Entity with Nova)coreStrategic or Co-development PartnerJoint venture for shared mobile network infrastructure; enables co-location of transmitters and reduced environmental impact from telecommunications infrastructure
• IcelandairminorChannel Partner/ Reseller/ DistributorVodafone Premium Starter Pack available on Icelandair flights; includes 50 minutes international calls to select countries
• Regional Reseller PartnersminorChannel Partner/ Reseller/ DistributorPartners in Akranes (Model), Borgarnes (Pósturinn), Egilsstaðir (Myndsmiðjan), Ísafjörður (Póllinn), Reykjanesbær (Tölvulistinn), Sauðárkrókur (Tengill), Selfoss (Árvirkinn), Siglufjörður (Raffó)

Scale indicators6 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• Telia Company: Telia is a major Nordic and Baltic telecom operator offering mobile, broadband, and TV across multiple countries; it is comparable to Sýn in scale relative to its home markets and in its mix of mobile, broadband, and content services, providing a useful cross-Nordic benchmark.
• Telenor: Telenor is a leading Nordic and pan-European mobile and broadband operator with a similar converged services profile to Sýn; comparable on mobile-first go-to-market, FWA/5G home internet strategy, and bundled TV offerings in small-to-mid European markets.
• Vodafone Group: Vodafone Group is the global telecom incumbent that licenses the Vodafone brand to Sýn and provides roaming, procurement, and device ecosystem access; it represents the broader global Vodafone operating model that Sýn adopts and is benchmarked against.
• Elisa Oyj: Elisa is a Finnish telecom operator providing mobile, fixed broadband, and digital entertainment services to consumers and businesses; it is comparable to Sýn on the converged telecom-plus-content model in a small Nordic market.
• Liberty Global: Liberty Global operates integrated broadband, video, and mobile services across Europe, similar in spirit to Sýn's telecom-plus-media portfolio; while much larger, its converged operator playbook (bundling connectivity with owned TV content) is the most structurally similar model to Sýn.

Direct peers

• Hringiðan / Hringdu (Iceland): Hringiðan (trading as Hringdu) is an Icelandic MVNO and telecom reseller offering mobile and fixed services to consumers and small businesses, competing with Sýn in the same Icelandic market at the prepaid and entry-tier broadband level.
• Síminn: Síminn is the historic Icelandic incumbent telecom (formerly Landssíminn), providing mobile, fixed broadband, and TV to consumers and enterprises in Iceland; it competes head-to-head with Sýn across virtually every product line in the same addressable market.
• Nova (Iceland): Nova is Iceland's other major mobile network operator and direct competitor to Sýn, offering mobile, broadband, and TV services across the same small Icelandic market; notably, Nova is also Sýn's network-sharing JV partner via Sendafélagið, making it the closest comparable operator on both commercial and infrastructure dimensions.

Regional players

• TDC NET: TDC NET is the Danish incumbent fixed and mobile operator and part of the broader TDC group, offering mobile, broadband, and TV in Denmark; it is a relevant regional comparable for a small-market Nordic integrated telco.
• DNA Ltd (Telenor Finland): DNA is a Finnish mobile and broadband operator now part of Telenor, offering mobile, fixed broadband, and TV in Finland; it is comparable to Sýn as a converged telecom in a small Nordic market with a similar bundling strategy.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/vodafone-iceland

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Vodafone Iceland