Last year, Reliance Industries Ltd chairman Mukesh Ambani waged a price war in the telecom sector by releasing a JioPhone and a slew of lucrative Jio data tariffs. On Thursday, Ambani at the Annual General Meeting (AGM), went a step further with the announcement of groundbreaking superfast fiber optic internet service, new generation JioPhone and more.
Here are highlights of the major announcements at the Reliance AGM 2018:
- Reliance Jio subscription has breached 215 million in just 22 months after the commercial roll-out, making it the world's fastest-growing telecom firm
- The company revealed there are 28 million people in India are using JioPhone and announced to release a new software update on August 15 that will enable the device to support WhatsApp, Facebook, and YouTube
- Also, Reliance Jio announced new Monsoon Hungama offer that entitles prospective consumers to exchange their old feature for JioPhone for just Rs 501 against the MRP: Rs 1,500
- The company also launched the new JioPhone 2 with a wider screen, QWERTY keypad, upgraded internal hardware, enhanced functionality and more. It is priced Rs 2,999
- After months of speculations, Reliance Jio finally announced the launch date of the new wired superfast broadband service JioGigaFiber with 1gbps internet speed
- Like the Jio cellular service, Reliance plans to offer JioGigaFiber with lucrative tariffs. It will be launched simultaneously in more than 1,000 Indian cities from August 15
- As part of the JioGigaFiber, consumers will get Jio GigaRouter with a promise of high-speed wall-to-wall wireless internet connection throughout the home. Also, users can subscribe to GigaTV set-top box with all channels, on-demand video (also available in 4K), music content, support voice-command in multiple regional language, TV video calling (compatible to any smart devices including smart TVs powered by JioGigaFiber and also even phones under other network carrier).
The company announced to offer Smart Home solutions, which include an audio dongle, video dongle, smart speaker, Wi-Fi extender, smart plug, TV camera, outdoor camera security, door sensors, motion detection. What's the best part is that, as claimed by Isha Ambani (board director member of Reliance Jio), is that engineers will be able to assemble them in as short as an hour.
- Mukesh Ambani revealed that the company's Reliance Retail business revenue crossed Rs 69,000 crore with 100-percent year-on-year growth and added that more than 4000 stores were opened in several parts of the country since one year and were able to create more than 1 million direct and indirect jobs.
- Ambani also noted that company's other two subsidiary Reliance Digital and Reliance Trends continue to be industry leaders of consumer electronics and fashion retail business, respectively
- Also Reliance Fresh tops the grocery segment with 500,000 tons of groceries sold over the last year
- The company plans to integrate Reliance Retail and Jio Digital infrastructure with an aim join digital and private individual physical marketplaces such as pharmacies, Kirana store and others under the aegis of Bharat-India Jodo enterprise hybrid commerce platform. Ambani said there are 35 crore customer footfalls at Reliance Retail, 21.5 crore Reliance Jio customers, 5 crore JioGigaFiber home customers, And three crore small merchants and shopkeepers and plans add them to this ecosystem, so that both consumers and local retail businesses benefit from latest technology and enjoy best user-experience
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