JioPhone users will enjoy free voice calls and unlimited data (1GB at high speed) for 28 days at a price of only Rs 49
This new plan is expected to deal a large blow to competitors who are already reeling under heavy losses as they try to aggressively match Jio's prices
Jio will also double the validity of Rs 98 pack to 28 days from the current 14 days from January 26 onwards
Given that voice services are free, attractive data packs are making the difference - giving Jio the edge over Airtel
The summit is taking place at Reliance Corporate Park and Reliance Jio is a key partner.
Mukesh Ambani said the digital economy will bring prosperity at more than double the speed of the traditional economy
The company aspires to get into the Internet-of-things business and blockchain will help its foray
Reliance-run Jio had last week announced another Rs 50 reduction in its existing plans
Jio's average download speed, however, fell marginally compared to the 21.9 mbps it had recorded in September
RCom will utilise proceeds of monetisation of cash deal solely for payment of debt to its lenders
Reliance Jio entered the highly-competitive telecom sector in September 2016 with a six-month promotional offer of free voice and data
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According to the Trai, market leader Airtel added 3.14 million subscribers and its overall base reached 285.19 million, with a market share of 24.21%
India's current mobile data subscriber penetration stands at 40 per cent
Will utilise it's wide user base to tie-up with local kirana stores
Reliance Jio is also aiming to explore potential partnerships in the future
'When Jio will have 200 mn subscribers, then it will gradually stop giving promotions and discounts, Nitin Soni, director at Fitch Ratings, said
The company's telecom revenues for the September quarter was led by industry leading average revenue per user and strong subscriber additions
The stock of Bharti Infratel was up 5.4 per cent in trade on Thursday on reports that it could be buying out the stake of its joint venture partners in Indus Tower. While Bharti Infratel and Vodafone have 42 per cent stake each in Indus, Idea has 11.15 per cent. The Street perceives the deal to be a positive one for Bharti, as it allows the company to put its hoard to good use. The company had cash of Rs 4,400 crore at the end of June and generates about Rs 3,500 crore annually. The deal will help improve the return ratios, as the return on capital employed was pulled down by the cash pile. Analysts believe the stock could get re-rated, with even an 8.1 per cent increase in stake helping it to save on dividend tax (double taxation on dividends from Indus) and eliminate the holding company discount.For the incumbent operators, facing intense competition from Reliance Jio, cutting of debt and investing in expansion of fourth-generation technology (4G) capability simultaneously has ...
The move came after the reports surfaced that Airtel is in talks with multiple handset makers to bring a 4G smartphone for a price as low as Rs 2,500-2,700 to take on Reliance Jio