Airtel and Voda Idea shares dip on back of Jio’s announcements

Jio GigaFiber service to launch on 5 Sept 2019

Speaking at the 42nd Annual General Meeting (AGM), Reliance Industries' Chairman and Managing Director Mukesh Ambani said Jio will also offer unlimited worldwide calling pack from its landlines to the USA and Canada at Rs 500 a month, and that default tariff plans will be one-fifth to one-tenth of existing market tariffs.

Ambani said that since its announcement past year, Jio received over 15 million registrations from almost 1,600 towns.

Jio with over 340 million mobile subscribers has become the country's largest operator in revenue terms within three years of launching its mobile services and now hopes to pull off the feat in fixed-line broadband services.

Here, we're highlighting everything around Jio GigaFiber that grabbed eyeballs during the AGM 2019.

Here's everything announced at the RIL 42nd AGM.

The Jio Fiber service will be launched on September 5.

Apart from Blockchain, Jio is planning to deliver Virtual and Mixed Reality content by setting up a pan-India Edge Computing and Content Distribution network again starting with tens of thousands of nodes. This service won't be available immediately but Ambani stated that it should be live by mid-2020. The lowest of its plans will start at speeds of 100Mbps and go all the way up to 1Gbps. The RIL Chairman clarified that these products will be absolutely free with the Jio Forever Plan or Jio Fiber Welcome offer. "So, Jio Fiber customers who opt for our annual plans which we call Jio Forever plans, will get an HD or 4K LED TV and a 4K set top box absolutely free", he said. Subscribers who use JioFiber services will be eligible for the Jio Postpaid Plus service. Further, the default tariffs of Jio Home Phone are touted to be one-fifth to one-tenth of existing industry tariffs.

Jio's also making global calling cheaper by setting the default tariffs to one tenth of the industry average and, for USA and Canada exclusively, users can purchase unlimited calling at ₹500.

Reliance Jio's GigaFiber broadband service is set to roll out in India next month. Jio Postpaid Plus plans are said to provide a "platinum-grade" experience, and will also include "unprecedented Family plans", affordable worldwide roaming, and phone upgrades at "preferential rates". Jio GigaFiber will be launched on a commercial basis on 5 September on the third anniversary of the telecom giant's launch. Among these announcements were some details of the Jio Set-Top-Box (STB), a device that will be included with JioFiber connections.

The announcement was done by the Chairman of Reliance Telecommunications Mr Mukesh Ambani.

But shares of telecom majors Bharti Airtel fell 4% and Vodafone Idea slid nearly 5% as the announcements spurred worries of a repeat of what happened just three years ago when Reliance's Jio burst on to the scene.

For MSMEs, Reliance Jio has special plans ready.

The company is also working on a Point of Sale (POS) Solution - Jio Prime Partner POS, which is said to enable inventory management, customer relationship management, financial services and other services for small merchants.

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