Okay, here is a piece of trivia for you. Reliance Jio, Indian Billionaire Mukesh Ambani’s baby, was founded way back in 2007! Well, you didn’t know that, did you? However, you might remember how Jio took the entire nation by storm when it came out with its free 4G sims and Jiophones. While its phones were a failed venture, the telecommunication network more than made up for it! Right now, Jio owns 44% of the entire telecom industry alone. So, what sounded like a huge scam in the initial days was quite a masterplan, wasn’t it?
Whatever Jio has done in the past, has turned to gold. No wonder, Mukesh Ambani has become one of the top contenders for the “Richest Man in the World” spot. But what has Jio in store for us this year? For the regular updates, don’t forget to follow their Instagram handle.
Keep reading to know more!
Jio’s Future Plans
As you know, the RIL AGM 2020 was held on July 15, 2020. And as usual, this year too Ambani had some pretty exciting announcements to make.
The biggest partners for Jio this year have been giants like Facebook, Silverlake, KKR, TPG, Intel, and Qualcomm. Out of this, the most significant investment has come from Google. Google invested an enormous ₹33,737 crore with a 7.7% stakeholdings in Jio platforms. Jio has also managed to become a zero debt company, which in itself is a considerable achievement considering its size.
Another exciting venture would be Jio’s entry into the 5G spectrum race. They have claimed to develop a complete 5G solution that has been developed from scratch in India. This solution would be a massive boost to the “Atmanirbhar Bharat” movement going on right now. Jio also promised to release 5G phones which would be accessible to all. So, what does he mean by that? Well, most 5G phones in the market are flagship phones, starting at around 50k. However, Jio will be offering 5G compatible phones at a fraction of that cost! Jio’s partnership with hardware giants like Intel and Qualcomm would no doubt be the key in this venture. This news was closely followed by Jio’s commitment to make India “2G mukt”, which means that the lowest broadband speed available in the Indian market would rise from 2G to 3G. Well, a bold statement, I must say!
Reliance has also announced JioTV plus, which would be a one platform entertainment solution for all its users, and its subscriptions would include all the various platforms existing in the market, including Netflix, Amazon Prime, and Zee5. This should prove to be a convenient solution to the users who’re always in a mess regarding which subscription they should choose.
Other upcoming ventures from Reliance Industries include the Jio Glass and the JioMart. The former is a type of smart glasses that would step forward from VR glasses. JioMart would focus on small-scale shops reaching a larger group of customers through Whatsapp!
Well, in all, has been quite an interesting year, hasn’t it? Keeping in mind how things have grown, Mukesh Ambani is all set to reach that prestigious top 3 list.
For more info regarding this, check out: Mukesh Ambani Surpasses Europe’s Richest Man!
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