Reliance Industries Limited (RIL) chairman and managing director Mukesh Ambani addressed the company’s shareholders at the 41st annual general meeting (AGM) at Birla Matushri Sabhagar in Mumbai today.
Continuing the trend of making big announcements at AGM associated with its telecom sector Reliance Jio Infocomm Ltd. Ambani announced the rollout of Reliance JioGigaFiber, which has previously been rolled out in select markets in the country. It offers fiber-to-the-home (FTTH) broadband connections with 1.1TB (terabytes) of free data at a speed of 100 Mbps.
AGM saw many other product announcements the Giga Router and GigaTV Set Top Box along with Smart Home Solutions. With Smart Home Solutions, you will be able to control the TV, plugs, doorbells and more via the MyJio app. With the Gigarouter connected GigaTV Set Top Box, you can watch 600+ channels, play millions of songs, and stream ultra-HD content in 4K. It supports VR and voice commands and also video calling through the tv.
A new Jio Phone, the Jio Phone 2, and an exchange offer were also announced. The Jio Phone, priced Rs 2,999, is slated to be released on August 15 and will contain ‘advanced features’ compared to its predecessor. Under JioPhone Monsoon Hungama offer to start from July 21 existing customers can replace their old JioPhones to get the new one for just Rs 501.
The phone comes with a 2.4-inch screen, 512MB RAM, 4GB internal storage expandable up to 128GB, QWERTY keypad, and 2MP primary camera plus 0.3MP front camera. Powered by the KaiOS and a 2000mAh battery, it will have Wi-Fi, GPS, and Bluetooth connectivity options too.
Mukesh Ambani also made a statement at creating a hybrid, online-to-offline commerce platform. The ‘Bharat-India Jodo’ programme that blends the power of Reliance Retail with Reliance Jio. The hybrid model will offer consumers value for money and combine pharmacies, small groceries via Jio.
Jio, when started back in 2016, has rocked the Indian telecom market with attractive offers and has fiercely hit competition forcing price changes by competitors. Now, they are coming back to haunt markets again with JioGigaFiber, GigaTV Set Top Box, and other products. Definitely a road rage for competitors.