Mumbai, July 5: Riding high on Jio tide, Reliance Industries (RIL) Chairman and Managing Director Mukesh D. Ambani on Thursday said the company has doubled its subscriber base to 215 million in 22 months and is all set to launch much talked-about fibre-to-the-home broadband services JioGigaFiber soon.
Addressing the shareholders at the 41st Annual General Meeting of RIL, Ambani said: “As India starts on its high growth journey to double the size of its economy by 2025, I assure you that the size of Reliance will more than double in the same period.”
Describing this as the company’s “golden decade”, he also said that it’s consumer businesses is poised to contribute equally to overall earnings as the energy and petrochemical businesses. The company currently has more than 25 million JioPhone users.
Announcing that the company’s fixed line broadband service, JioGigaFiber, Ambani said,”We will now extend fiber connectivity to homes, merchants, small and medium enterprises and large enterprises simultaneously across 1,100 cities to offer the most advanced fiber-based broadband connectivity solutions.”
Starting this Independence Day, August 15 people can start registering for JioGigaFiber through both MyJio and Jio.com.He said for homes JioGigaFiber means ultra high-definition entertainment on large screen TVs, multi-party video conferencing from living room, voice-activated virtual assistants, virtual reality gaming, digital shopping and immersive experiences.
The company also said it would launch JioPhone2 on August 15, which will be available along with the existing JioPhone.
“Starting July 21, they can exchange their existing feature phone for a brand new JioPhone for just Rs 501. We have thus reduced the effective entry cost of the JioPhone from Rs 1,500 to as low as Rs 501. Our JioPhone2 will be available at an introductory price of only Rs 2,999.”
While talking about the company’s retail business, Ambani said the company saw its biggest growth opportunity “in creating a hybrid, online-to-offline new commerce platform”.
He said the new platform will be created through integration of its offline retail arm and online technology platform. “We shall create this by integrating and synergising the power of Reliance Retail’s physical marketplace with the fabulous strengths of Jio’s digital infrastructure and services.”
According to Ambani, the platform will bring together the 35 crore customer base of Reliance Retail stores, 21.5 crore Jio connectivity users and a targeted 5 crore Jio “GIGA-HOMES”; and the “3 crore small merchants and shop-keepers all over India who provide the last-mile physical market connectivity”. (IANS)