Conglomerate plans e-commerce platform to take on Amazon, Walmart
Mumbai : After shaking mobile telephony with free voice calls and dirt cheap data, billionaire Mukesh Ambani on Thursday unveiled an ultra-high speed fixed line fibre broadband for homes and enterprises across 1,100 cities.
Oil-to-telecom conglomerate Reliance Industries (RIL) is also planning to take on Amazon.com and Walmart in the retail industry by creating a platform that combines online and conventional shopping.
The new offerings alongside the strengthening of the mainstay energy and petrochemicals business will help double size of RIL to $125 billion by 2025, he told the company’s shareholders.
Ambani said customers can start registering for the fixed line broadband from August 15 but did not give a launch date of the service, which will through one fibre provide high-speed internet, ultra-high definition entertainment on large screen TVs, multi-party video conferencing, voice-activated virtual assistance, virtual reality gaming and digital shopping as well as smart home solutions.
Jio GigaFiber will offer ultimate broadband experience to surf, stream, game, and work, because of its ultra-fast upload and download speeds and effective functioning in milliseconds.
It will come directly to homes unlike in most cases where the fibre reaches only until the building and the last few meters of end connectivity is done using the traditional cable, which drastically reduces the speed and user experience due to patches and inferior cable qualities of such patch up.
Set Top Box
Reliance Jio will also offer a Set Top Box for TV when it launches ultra-high speed fibre-based broadband services — an offering that is expected to compete with DTH operators like Tata Sky. Market watchers have said this would pose as a “serious competition” to TV distributors on both the DTH and cable side, putting further pressure on falling average revenue per user.
He also announced second-generation JioPhone with added features like qwerty keypad and messaging services like Whatsapp, Facebook, and Youtube. The phone will be available for booking from August 15 for Rs 2,999. This would be in addition to the JioPhone, which will continue to be available on payment of a Rs 1,500 refundable security deposit.
Ambani ‘bahu’ makes debut at AGM
MUMBAI: Shloka Mehta, the to-be daughter-in-law of richest Indian Mukesh Ambani, on Thursday made a debut at the annual shareholder meeting of Reliance Industries, one of the most keenly watched affairs in corporate India. Mehta, 27, who just last week got engaged to Ambani’s elder son Akash at a star-studded party, sat in the front row between her fiancee’s younger brother Anant and his grandmother Kokilaben Ambani.