Posts Tagged ‘Reliance Jio Infocomm Limited’

Reliance Jio Announces Collaborations with Screenz and Whistling Woods International

May 18, 2018

Reliance Jio, the telecom ventures of the Mukesh Ambani-owned Reliance Industries Limited (RIL) has made an announcement of two new collaborations. The telecom entity has collaborated with Screenz, an entertainment-oriented interactivity platform, and Whistling Woods International, one of Asia’s leading creative arts, film, and communication institute. It has partnered with Screenz to add gamification while the partnership with Whistling Woods International is to support the development of virtual reality workflow in India.

Details of the Reliance Jio-Screenz collaboration

Reliance Jio had made an announcement on Thursday, May 17, 2018, about its collaboration with Screenz. The collaboration is named as ‘Jio Screenz.’ The purpose behind this collaboration is to add gamification in Reliance Jio’s existing platform. Reliance Jio stated that with Jio Screenz it would make its presence felt as an integrated provider of entertainment-oriented gamification in the country.

About the Jio Screenz platform

Jio Screenz is a platform, which enables a real-time interactive communication between the viewers and broadcasters in the form of votes, polls, and quizzes during a television show. This platform can be facilitated on any digital app with a Software Development Kit (SDK) with support on Jio Kai OS, iOS, and Android. Jio Screenz will permit publishers and broadcasters to create content, which is engaging. As an interactive platform, it is expected to provide new advertising avenues and increased user engagement. Reliance Jio stated that Jio Screenz is its second platform when it comes to brand-engagement in an innovative manner. Reliance Jio had launched ‘JioInteract,’ its first Artificial Intelligence (AI)-based brand engagement platform a few days back.

Details of the Reliance Jio-Whistling Woods International partnership

Reliance Jio has announced that it has joined hands with Whistling Woods to guide the workflow of virtual reality in India. Both the partners, Reliance Jio and Whistling Woods International are set to establish a lab for the development of virtual reality, at the campus of Whistling Woods, located at Film City, Mumbai. Many activities would take place in the lab, which would include creating a new and evolving technology for augmented workflows and virtual reality. The lab will also take part in the global virtual reality community through its involvement in global conferences and membership in the global virtual reality industry forum.

The President of Reliance Jio, Jyotindra Thacker stated that the company has a strong belief that after film, television, and digital, virtual reality will be the fourth content platform. Thacker further stated that this lab would produce virtual reality filmmakers, who will start India’s virtual reality content ecosystem. He concluded that Reliance Jio would guide the creation and distribution of virtual reality content and thereby give the customers a cutting-edge experience.

Meghna Puri, the President of Whistling Woods International expressed delight on the strategic partnership with Reliance Jio. Puri further stated that Whistling Woods has always been a leader in welcoming and introducing the latest creative and technological innovations in the creative arts, media, and film domain, and the virtual reality lab, developed in collaboration with Reliance Jio, is another move in the same direction.

Summary

Reliance Jio announces partnerships with Screenz and Whistling Woods International.

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Reliance Jio All Set to Launch JioPostpaid

May 11, 2018

Reliance Jio, the telecom division of the Mukesh Ambani-owned Reliance Industries Limited (RIL) announced on Thursday, May 10, 2018, that it is set to launch ‘JioPostpaid,’ which would include a series of various postpaid plans for subscribers. The ‘JioPostpaid’ plans will start at a price of INR 199 per month. These plans will come into effect from Tuesday, May 15, 2018. The key target audience for JioPostpaid is international travelers.

Pre-activation of services under JioPostpaid

Reliance Jio has stated that all postpaid facilities such as international calling, text messages, internet, and voice-calling would be pre-activated in the JioPostpaid plans. This indicates that when customers travel overseas, they need not ask the Jio customer care for the activation of these services repeatedly.

Various offers under JioPostpaid

There are four postpaid plans under JioPostpaid, from which customers can choose any one as per their suitability and convenience. The postpaid plans are offered at varied prices of INR 199, INR 575, INR 2,875, and INR 5,751.

The monthly-postpaid plan of INR 199 provides the customers with 25GB data. Along with data, this plan also offers free voice calls and unlimited text messages. Under this plan, the activation of ISD facilities would be done without any security deposit amount. In this plan, customers would be required to do one-click activation in order to activate the international roaming service without paying any security deposit.

Reliance Jio’s JioPostpaid plan of INR 575 offers the benefits of unlimited data, voice calls, and text messages to customers. Apart from these facilities, this plan also offers local calls in foreign countries, ISD calls from overseas destinations to India, and 250MB data on a daily basis. This plan has a validity of one day.

The INR 2,875 postpaid plan offered by Reliance Jio provides the facilities of unlimited text messages, data, and voice calls. Just like the INR 575 postpaid plan, this plan also offers 250MB data per day, local calls in international locations, and calls to India from foreign destinations. This plan has a validity period of seven days.

The INR 5,751 postpaid plan has a validity of 30 days. It offers the benefits of unlimited voice calling, text messages, and data. It offers 5GB data along with local calls in international countries and ISD calls to India from foreign locations.

Countries where JioPostpaid plans can be used

Customers traveling to countries such as Ireland, New Zealand, United Kingdom, United States, Italy, Germany, Singapore, Malaysia, Thailand, Sri Lanka, United Arab Emirates, Turkey, Netherlands, Spain, Portugal, Greece, Romania, Hungary, and the Philippines can make use of these postpaid plans.

Tariffs offered in JioPostpaid

The unlimited plan starts at INR 199 on a monthly basis. International calling cost starts from INR 0.50 while the cost of international roaming starts from INR 2, which includes INR 2 per text message, INR 2 per MB for internet data, and INR 2 per minute for voice calls.

How customers can avail of the JioPostpaid plan with the existing mobile number

Customers can use the mobile number portability option to switch to a JioPostpaid plan. Reliance Jio will provide the services of SIM activation and home delivery. Customers would need to complete the process of e-KYC.

Summary

Reliance Jio announces JioPostpaid plans starting at INR 199 per month.

Reliance Jio Announces the Launch of JioInteract

May 4, 2018

Reliance Jio, the telecom venture of the Mukesh Ambani-controlled Reliance Industries Limited (RIL) has made an announcement about the launch of JioInteract, the globe’s first Artificial Intelligence (AI)-based platform for brand engagement. This announcement was made on Thursday, May 3, 2018.

About the JioInteract platform

Touted to be as the world’s very first AI platform for brand engagement, JioInteract is a video calling service wherein the users would get an opportunity to have a live interaction with the noted celebrities of India. In order to start with the launch activities, Reliance Jio has signed-up the biggest star of Bollywood, Amitabh Bachchan. The megastar will promote his upcoming flick ‘102 Not Out,’ a comedy-drama featuring himself and Rishi Kapoor. Bachchan will be seen promoting this upcoming movie in an extremely innovative manner through the JioInteract platform. Users will have the chance to interact with the superstar by asking questions related to his forthcoming film. They can also do the real-time booking of their tickets through BookMyShow, the ticketing partner of JioInteract.

Reliance Jio’s plan with the JioInteract platform

Reliance Jio has a user base of 150 million smartphone customers and more than 186 million subscribers. Its plan is to make JioInteract a key platform for brand engagement and promotion of movies. In order to enhance customer experience, Reliance Jio is set to launch services such as virtual showrooms, video catalog, and video call centers. JioInteract, as the world’s first AI platform in this aspect, will redefine what customers and brand think about the concept of engagement.

Steps to use the JioInteract platform

In order to make use of the JioInteract platform, firstly, the customers would need to download the MyJio mobile application (app). After downloading the mobile app, they need to click on the icon of JioInteract, which is in the app. After selecting the JioInteract icon, users can begin their video call and interact with Amitabh Bachchan. Moreover, users also have the option to share the experience about the video call with their friends and family by selecting the ‘Share’ option.

Key features of the JioInteract platform

JioInteract uses a strong AI-based platform, which helps to hear questions of the users and revert to these queries in the most suitable manner. Additionally, this platform features a distinctive feature of auto-learning, which helps in answering in an accurate manner. As a Video Call Bot as a Service (VCBaaS), JioInteract has multimedia capabilities to regularize the use of video calling and AI in the easiest manner. Such technology has a wide use in the ‘Business to Consumer’ (B2C) space to help businesses in brand engagement solutions.   

About Reliance Jio

Reliance Jio, apart from being the telecom entity of RIL, is also a digital ecosystem comprising of mobile apps, broadband networks, and smartphones distributed all over India. The media offerings of Reliance Jio include programs of live and recorded content related to sports, music, and events, along with television shows and movies.

Summary

Reliance Jio launches JioInteract, the globe’s first Artificial Intelligence platform for brand engagement and movie promotions.

Reliance Jio Launches ‘JioPhone Match Pass’ Offer for Its Customers

April 27, 2018

Reliance Jio, the telecom entity of the Mukesh Ambani-led Reliance Industries Limited (RIL) has launched a special offer named ‘JioPhone Match Pass’ for its customers. This offer has been launched to engage customers during the ongoing Indian Premier League (IPL) 2018. In the ‘JioPhone Match Pass’ offer, Reliance Jio is providing data worth 112GB for a maximum validity period of 56 days, wherein customers can watch all IPL matches free of cost. The company had made an announcement of this offer on its official Twitter handle on Thursday, April 26, 2018.

About the ‘JioPhone Match Pass’ offer

The ‘JioPhone Match Pass’ offer is exclusively created for the customers of Reliance Jio. Under this offer, customers can win IPL cricket packs from Reliance Jio, by asking their friends to buy a JioPhone. They can win these cricket packs for their own Reliance Jio account as well as the friends’ JioPhones. In order to avail data of 112GB, for a validity duration of 56 days, customers have to ensure that their ten friends have purchased a JioPhone. Once every friend buys a JioPhone, both the new buyer and the existing customer (referrer) would get a Jio Cricket data pack, for a four-day period. With this data pack, customers can watch live IPL matches on their JioPhones for free, during this four-day period. In addition, there is no limit on the number of family members and friends, whom the customers can refer.

Steps to get the ‘JioPhone Match Pass’ offer

The first step, which the customer needs to follow, is that he needs to tell his friends to contact on 1800-890-8900. During the telephonic call, the customer’s friends need to give the customer’s Jio contact number and the PIN code of their own area. After doing these activities, the customer’s friends are entitled to get their JioPhones either through Reliance Jio’s official website or by visiting their nearest retailer. After getting the JioPhone, the customer’s friends must make sure to give the earlier number provided on 1800-890-8900, during the e-KYC and Jio activation process.

‘JioPhone Match Pass’ benefits

From the first to fourth activation and the sixth to ninth activation, the customer would get an 8GB Jio cricket pack for four days, with a data of 2GB on a daily basis. On the fifth and tenth activation, the customer would get a 24GB data on for a period of 12 days, with a daily data of 2GB.

Along with the aforementioned benefits, two customers who referred the maximum number of family members and friends for buying the JioPhone would get a chance to appear on the ‘Jio Dhan Dhana Dhan’ show, which is being aired on the MyJio mobile app and Colors television channel.

‘JioPhone Match Pass’ offer validity

This offer is valid until May 27, 2018, the day when IPL 2018 will conclude. The benefits will be given to the customers and their family members/ friends, who get a JioPhone before May 27.

Summary

Reliance Jio launches a special ‘JioPhone Match Pass’ offer during the ongoing IPL 2018.

Reliance Jio Set to Take the Business Ahead in Other Markets

April 20, 2018

There is a huge speculation that Reliance Jio, the telecom wing of the Mukesh Ambani-led Reliance Industries Limited (RIL) is all set to make new inroads in the broadband internet services space, with the official launch of this service, which would most probably happen towards the end of 2018. Apart from the broadband internet space, the company is also set to make its presence felt in the payments bank and e-commerce space.

Forecast by CLSA India on Reliance Jio’s broadband service

According to a report by Bloomberg, CLSA India, a well-known brokerage firm has stated that with the objective to acquire clients and seek insights with reference to the usage patterns, Reliance Jio has already been providing high-speed broadband as a free service, in a few selected urban areas. CLSA India has estimated that the new broadband service may increase the valuation of RIL, the parent organization, by USD 5 billion. The brokerage firm has further forecasted that this new service offering would boost RIL’s earnings by INR 4,000, which is equivalent to USD 611 million, before amortization, depreciation, taxes, and interest, in three years.

Expectations from Jio Payments Bank

Jio Payments Bank, a 30:70 joint venture between the State Bank of India (SBI) and RIL; started its operations earlier in April 2018. Although there is no complete information about the services offered by the Jio Payments Bank, banking experts are of the opinion that this entity is set to have a strong foothold in the payments bank space. An analyst on the condition of anonymity told Quartz India that although Reliance Jio is a late entrant in most of the industries, it has managed to make a mark for itself. The analyst continued that the same is expected from Reliance Jio in the payments bank space, as it already has a loyal customer base through its point of sales contact and the Jio Money wallet business.

Inroads into the e-commerce market

Reliance Jio is all set to make inroads into the e-commerce market with the help if its subscribers and network. It is reported in order to develop an operational model, which would empower shoppers to purchase at the neighborhood, with the help of its digital coupons, which include text messages and/or the JioMoney platform, Reliance Jio has been working with consumer brands and kirana stores. Under this operational model, the mobile users of Jio will receive digital coupon codes for a particular brand. The users can purchase those brands at their neighborhood stores, by making use of the coupons. Stores registered with Jio will be provided with software on their tablets or phones, in order to read the digital coupons.

Mukesh Ambani featured in the ‘World’s Greatest Leaders of 2018’ list

Mukesh Ambani, the Chairman of RIL has been featured in the Fortune magazine’s list of the ‘World’s Greatest Leaders of 2018.’ The magazine stated that within two years Ambani has provided India with affordable mobile data through Reliance Jio, due to which he is ranked at number 24 on this list.

Summary

Reliance Jio is expected to move ahead in the broadband service, payments bank, and e-commerce space. Mukesh Ambani featured in the ‘World’s Greatest Leaders of 2018’ list.

JioFi Devices Gain 85% Data Cards Market Share While Reliance Trends Partners with Flormar Cosmetics

March 9, 2018

As per a recent report by CyberMedia Research (CMR), the MiFi and USB data card market in India saw a 151 percent increase in 2017, when compared with its performance the year before. JioFi devices by Mukesh Ambani owned Reliance Retail accounted for 85 percent of the market share in 2017, which was a major increase from 38 percent in 2016. The JioFi models occupied top five spots in the data cards market overall.

With a significant annual growth of 255 percent, the market of Long Term Evolution (LTE)/4G data cards made a 99 percent contribution in 2017. Shipra Sinha, a Lead Analyst at CMR, said that MiFi devices working on LTE/4G technology can provide superfast internet at a smaller price. They also offer multiple user support. All these factors raise it to the leadership position.

Why MiFi devices are becoming popular

Sinha noted that the increasing popularity of MiFi devices, especially those offered by Reliance Retail in cities belonging to Tier I and Tier II categories, will pave the path for this device category to grow in the country’s major parts. The year 2018’s first quarter will see good sales, thanks to the new JioFi models by Reliance Retail that are being introduced in the market. Sinha has a strong belief that the introduction of new models along with the low-cost internet plans will boost sales.

The home router market was hit after the launch of the JioFi devices, said the CMR report. Sinha pointed out that MiFi devices provided a great alternative to Wi-Fi routers, due to the former’s inbuilt battery and portability features. Limited coverage and continuous power supply requirements are some of the limitations of Wi-Fi routers. MiFi devices do not have these shortcomings.

The entry of Reliance Jio in the telecom market also put other service providers under severe pressure, the CMR report further noted. With multiple, low-budget internet plans, paired with the availability of MiFi devices at reasonable prices, Jio has grown significantly in the latter part of 2017, especially during the festive season.

Reliance Retail ties up with Flormar

Recently, Mukesh Ambani led Reliance Retail joined hands with Flormar, a popular cosmetics brand headquartered in Turkey, to launch its beauty products in India. With products selling in more than 100 countries, Flormar will now make its presence felt in India through this exclusive partnership with Reliance Retail. To begin with, around 300 cosmetics products from Flormar’s product range will be sold at Reliance Trends.

Cem Şenbay, CEO at Flormar, said that the company’s journey in India has started with Trends. Sticking to their global philosophy, Flormar strives to add color and beauty to India’s incredible ladies. Akhilesh Prasad, CEO of Reliance Trends, also spoke about this new development, saying that Trends is happy to display Flormar’s products and it is a win-win relationship for both the companies.

Summary

JioFi devices from Reliance Retail acquired an 85 percent market share in 2017. Reliance Retail also tied up with cosmetics company Flormar to launch about 300 beauty products at Reliance Trends.

RIL to Acquire 5% Stake in Eros International

February 23, 2018

With the ambition to boost the content strategy of Reliance Jio, the Mukesh Ambani-led Reliance Industries Limited (RIL) is set to buy a stake of 5 percent in the New York Stock Exchange (NYSE)-listed Eros International, Eros International Media (Eros India’s) holding company.

Deal between RIL and Eros

As per the deal, RIL’s overseas subsidiary will buy the shares of Eros for USD 15 per piece at a premium of 18 percent to the last closing price at the NYSE. The two renowned conglomerates stated that the transaction is subject to regulatory, customary, and other approvals. Eros India and RIL will have a joint collaboration to produce and consolidate content across India. Both the companies will have an equal investment of up to INR 1,000 crore in total to acquire and produce original digital series and Indian films across various languages.

Transition of a leader

After having worked for over 17 years at Eros, Jyoti Deshpande, the Group CEO of Eros India is set to resign from her duties and go ahead to lead RIL’s media and entertainment business in the capacity of President at the Chairman’s Office. Deshpande will begin her journey at RIL from the month of April 2018. However, she will be retained on the board of directors at Eros as a non-executive director.

At RIL, Deshpande’s core responsibility will be to head the media and entertainment endeavors in order to build and grow businesses in an organic manner around the content verticals, which include sports, music, films, broadcasting, animation, digital, and gaming. In her new responsibility, Deshpande will play a significant part in integration and consolidation of Balaji Telefilms, Viacom 18, and RIL’s other existing media investments. Speaking about this opportunity, Deshpande stated that this new role would help her push boundaries, build a young and energetic world-class leadership team, set new standards of excellence, and lastly adopt a collaborative approach and plan and execute this aspiration in complete RIL tradition.

Views of key people

Experts are of the opinion that this deal will be a win-win situation for both RIL as well as Eros. This is because the deal gives RIL more opportunities related to content, while it gives Eros a new platform to help distribute the content. Business tycoon Mukesh Ambani, the Chairman and Managing Director (MD) of RIL expressed his delightfulness about joining hands with Eros. According to Mukesh Ambani, this collaboration would bring further alliances into future projects. He also expressed happiness by welcoming Deshpande into the RIL family stating that this would not only give wings to the company’s plans but also play a predominant role in transforming the sector.

Kishore Lulla, the Executive Chairman of Eros expressed his gladness about the company collaborating with RIL in several synergies across content, technology, and digital (Eros Now). This will give a strong breakthrough to the entertainment journey of Eros. Lulla further added that Eros and RIL together could make a meaningful difference by collaborating and making new strides in the content and digital forefronts.

Summary

RIL is set to buy 5 percent stake in Eros International to boost Reliance Jio’s content strategy.

Mukesh Ambani Discusses State Development Strategies with Andhra Pradesh CM

February 16, 2018

Business tycoon Mukesh Ambani, the Chairman of Reliance Industries Limited (RIL), visited N Chandrababu Naidu, the Chief Minister of Andhra Pradesh on Tuesday, February 13. They had a formal meeting at the Secretariat, Amaravati to discuss how RIL would contribute towards further growth and advancement of Andhra Pradesh.

RIL’s proposal for setting up submarine cable landing station

During the two-hour meeting between Mr. Ambani and Mr. Naidu, the former, on behalf of RIL, proposed to set up an international submarine cable landing station (CLS) in the coastal city of Visakhapatnam. The proposed CLS is set to link the east coast to Myanmar, Andaman and Nicobar Islands, and South-East Asia. However, as per a reliable source, no other details have been shared. The source further stated that to add to RIL’s delight, the Andhra Pradesh CM has approved and supported the proposal of setting up a CLS.

Proposal for setting up information technology and telecom infrastructure 

With an ambition to transform Andhra Pradesh into a data superpower state, RIL has proposed to build a modern information technology and telecom infrastructure on a 10-acre land.

Setting up of an electronic manufacturing cluster near Tirupati 

It is a known fact that Tirupati has been a major mobile manufacturing hub with various key domestic players such as Karbonn, Lava, Celkon, and Micromax having their facilities in this town. Realizing the potential Tirupati has, RIL has the vision of creating an end-to-end ecosystem in the field of electronics. RIL, under the brand name of Reliance Jio, will manufacture various devices like televisions, set-up boxes, batteries, and mobile phones, under the RIL electronics facility. This facility would be located in the Chittoor district near Tirupati on a 150-acre site.

Promotion of education and employment opportunities 

With the thought of generating employment opportunities right after completion of education, RIL has offered to promote a chunk of diploma colleges in the locality. RIL is also planning to develop a workmen-housing corridor in Tirupati Growth Corridor’s vicinity to provide housing and shelter for working professionals.

Setting up of a solar power plant 

RIL is set to build a 150MW solar power plant and data center on its site close to Samalkot in the East Godavari district.

Development of Amaravati

In an extended support to develop the capital city of Amaravati, the RIL chief has put down several points, which need to be implemented. He was of the view that apart from public capital, Amaravati also requires adequate private capital in order to attract international investments and attention. This, in turn, would help contribute towards the growth and development of the capital city to a great extent. 

Explanations by the Andhra Pradesh Chief Minister 

Apart from the multiple aforementioned proposals by RIL, there were many points of explanation made by the Andhra Pradesh CM too. He explained to Mr. Ambani about the Swiss challenge, construction, capital designs, and various other accomplishments in the state. Mr. Naidu emphasized on the importance of ‘fibergrid’ and ‘Real Time Governance’ center in the Chief Minister’s Office (CMO) and its interconnectivity from districts to villages. Mukesh Ambani truly appreciated the CM’s efforts towards the state’s welfare.

Summary

Mukesh Ambani visits Andhra Pradesh Chief Minister to discuss RIL’s contribution towards the state.

JioTV to Stream Olympic Games 2018 on its Mobile and Desktop Version

February 9, 2018

Live television app of Mukesh Ambani owned Reliance Jio, JioTV has bagged the digital rights of the Olympic Winter Games 2018. It will broadcast the PyeongChang Olympic Games live for the Indian audiences.

JioTV’s deal

JioTV has entered into a deal with the International Olympic Committee. As per the deal, the app will allow its users to enjoy live as well as catch-up content of the games on their mobile devices.

Reliance Jio revealed that it will create a number of exclusive channels so that the users may watch the tournament live 24×7. It will also offer content through its seven-day catch-up feature.

Apart from this, Reliance Jio was also among one of the highest bidders to bid for the digital rights of the Indian Premier League (IPL) tournament.

2018 Olympic Games

The 2018 Olympic tournament will have 102 events covering 15 sports. The tournament will be conducted at PyeongChang County in South Korea from 9th February to 25th February. Over 90 countries have participated in the tournament. The sports in the tournament include skating, snowboarding, skiing, ski jumping, luge, and ice hockey, among others.

The International Olympic Committee stated that the Olympic Channel will stream the tournament live on its website, YouTube channel, and mobile app. The events will be streamed across the Indian sub-continent in countries like India, Pakistan, Nepal, Bangladesh, Sri Lanka, Maldives, and Bhutan, among others.

JioTV’s desktop version

In December 2017, JioTV launched its desktop version. Subscribers may log in with their IDs and enjoy live television shows and channels on their laptops or Personal Computers (PCs).

The JioTV website is compatible with any browser. It allows users to watch content for free without the dependency on apps. Users may directly watch the programs on their desktop browsers.

To watch the content on JioTV desktop version, users need to visit JioTV’s official website. The URL for the same is www.jiotv.com. Users will need to sign in to the website with their Jio SIM numbers. After the user enters the password to sign in, he may enjoy watching uninterrupted shows.

Jio users create a password for their Jio numbers on the MyJio app. The same password needs to be entered on the JioTV website. 

JioTV app

The JioTV app operates on iOS and Android smartphones and tablets. iOS users require a version that is 7.0 or higher. Android users require a version that is 4.1 or higher.

At present, JioTV has more than 425 channels and over 60 HD channels. The company will continue to add more to these.

Mukesh Ambani led Reliance Jio offers a suite of apps to its users. Apart from JioTV, the package consists of JioMusic and JioCinema, among others. All the apps are exclusively free for Jio Prime members. These apps also work on Reliance Jio’s 4G feature phone, JioPhone.

Summary

Reliance Jio’s JioTV has secured the digital rights to live stream PyeongChang Olympic Winter Games 2018. Users may watch the games on JioTV’s mobile app as well as its desktop version.

Reliance Jio to Record a Profit this Quarter

January 12, 2018

Mukesh Ambani owned Reliance Jio to announce a report of its December quarter performance and is expecting to record its first-ever quarterly profit.

Reliance Jio’s profits of this quarter

The October to December quarter is going to be Reliance Jio’s first profitable quarter. This important financial milestone of the company is coming in less than 18 months of its launch. Jio entered the telecom market of India with free services provided to the customers, which triggered a tariff war in the sector.

According to some analysts, the reason behind Jio being closer to seeing profits is because of the shakeout in the telecom industry. This has brought down a number of serious players in the industry.

At the Hindustan Times Leadership Summit, last year, Mukesh Ambani, ame out with a warning for its rivals. He had announced that Reliance Jio is on its way to making profits.

July to September quarter of Jio

A pre-tax profit was reported in the July to September quarter by Reliance Jio. The profit was of INR 261 crore, which was its first-ever operating profit on standalone revenues of almost INR 6,147 crore. Though for the three months till September, Reliance Jio also faced a net loss of INR 270.5 crore.

Last year in September, the Telecom Regulatory Authority of India (TRAI) reduced the interconnect charges for mobile calls to 6 paise from 14 paise. This led to a big blow for the older telecom companies and resulted in a potential boost for Reliance Jio.

Launch of Jio

It has been more than a year now when Ambani launched the fourth-generation wireless service, Jio. It disrupted the telecom market by offering data at cheap dirt prices and free calls on mobile phones. The older players of the telecom market were forced to cut down the prices of their data. Jio offered free voice calls and SMS, which were still not free on other telecom operators. This has helped the company to attract 160 million customers.

Mobile data consumption

The mobile data consumption in India has gone beyond the data consumption of the United States and China combined, in 2017. According to Ambani, the data consumed by Jio users is nearly more than the entire data consumption of the United States and 50 percent more than China. India has become the top country in the world for the usage of mobile data. He also said that it is with Jio that Indian customers are consuming 100 crore GB data monthly, which is more than 3.3 crore GB data daily.

2017 was a year of alteration and bitter competition in the telecom industry. With the demand of data fuelling the digital economy, 2018 might be the growth year for the telecom sector. According to reports from the Press Trust of India, it is estimated that an investment of around INR 3 lakh crore will be made in the coming two years.

Summary
Mukesh Ambani led Reliance Jio is set to announce its first-ever quarterly profit for the October to December quarter.