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During the 41st annual general meeting (AGM) of Reliance Industries Ltd (RIL) that took place on July 05, Chairman Mukesh Ambani has made declaration about the launching of JioGigaFiber, a wired broadband service along with JioPhone2.
Presently obtainable in certain cities, Jio GigaFiber will get introduced crosswise 1,100 Indian cities at the same time turning it the chief fixed-line broadband fiber launch in the globe.
Chairman said, “At Jio, we are determined to take India to be among the top-five in broadband connectivity, both for mobility as well as fiber-based wireline connectivity. We have built future-proof networks and will continue to deliver the most advanced technologies to our customers for decades to come.”
Jio, which got rolled out during the year 2016, has shaken the Indian mobile zone with eye-catching offers and has intensely impacted rivalry forcing value amendments by participants.
For the fourth quarterly period, Jio has registered revenue of Rs 510 crore, rising 1.2% in a consecutive manner. The firm had registered a profit of Rs 504 crore during the Oct-Dec quarter.
RIL has declared that the second version of Jio phone will be obtainable at an initial value of Rs 2,999. The firm claims to have sold more than 25 million Jio Phones in aperiod of 12 months.
Together with this, Jio GigaFiber FTTH got rolled out to take the country’s broadband connectivity up a notch that will be accessible for both residential as well as commercial locations.
The interested users will be capable of registering for the Jio GigaFiber by August 15.
Calling the company’s newly introduced web service JioGigaFiber as ‘the next big thing from Jio’, financial company JP Morgan stated, “Our view is, given Jio’s customer acquisition strategy, that the launch pricing should effectively be at a large discount to current broadband and set-top box pricing prevalent.”
Considering Jio’s client acquisition policy the introductory pricing should efficiently be at a big money off to subsisting broadband and STB pricing in India.
“The customer base has grown really well. The data traffic is one of the highest on Reliance Jio. The revenue market share is also rising. In our opinion, Jio will continue to gain revenue as well as market share, putting further pressure on the incumbents. However, there is no new plan that is incrementally disruptive for the mobile sector. JioFiber launch is a significant announcement. That will impact Bharti Airtel’s home segment,” Nitin Soni of Fitch Ratings said.