JioAirFiber has seen strong initial demand and customer engagement
Jio has rolled out Jio True 5G network across India ahead of schedule, and about 90 million subscribers have been migrated to Jio’s 5G network, Akash M Ambani, Chairman of Reliance Jio Infocomm, said in the company’s latest financial report.
Capital Expenditure for the quarter ended December 31, 2023, was Rs.30,102 crore (US$3.6 billion) with investments in pan-India 5G roll-out, expansion of retail infrastructure and new energy business.
This excludes amount incurred towards spectrum and adjusted for capital advances and regrouping of assets.
“Jio has accomplished the fastest rollout of 5G network witnessed anywhere in the world and is now available across India,” he said in the Reliance Industries’ third quarter report released on 19 Jan 2024.
“The Jio True 5G network now carries almost one-fourth of Jio’s mobility data traffic and the entire 5G data is now carried on Jio’s own 5G+4G combo core.”
JioAirFiber has seen strong initial demand and customer engagement, especially in underserved tier 3/4 towns and rural areas.
“Jio’s ahead of the curve investments on next-generation network, digital technologies and tailor-made products for all customer cohorts will ensure sustainable industry leading growth in coming years,” said Akash Ambani on the strategic progress.
Mukesh D. Ambani, Chairman and Managing Director, Reliance Industries Limited, added, “Reliance has delivered yet another quarter of robust operating and financial performance, thanks to the exceptional efforts put in by teams across its businesses.
“I am happy to share that Jio has completed in India the fastest rollout of True 5G services anywhere in the world. Every city, town, and village in the country is now equipped with high-speed digital connectivity, which will usher in a new era of unparalleled digital accessibility and technology-led growth.
“The strong uptake of the JioBharat phone and JioAirFiber services has resulted in continued expansion of Jio’s subscriber base, contributing to the stellar growth numbers of the digital services business.”
Jio’s accomplishments:
JioBharat platform now has 3 SKUs (stock keeping units) with price points ranging from Rs.999 to Rs.2,599, providing more choices to customers.
JioPhone Prima, the latest addition to the platform gives access to apps like Youtube, Facebook and WhatsApp, along with Jio Entertainment Apps.
Discussions are ongoing with multiple partners and OEMs to expand the platform further and accelerate the transition towards 2G Mukt Bharat.
JioBharat has over 45% market share in the sub–Rs.1,000 segment.
JioAirFiber is now available in over 4,000 cities and towns, with pan-India coverage expected in 1H’CY24.
Early signs of demand and customer engagement have been encouraging. Content bundling is driving a ~30% higher per capita usage on JioAirFiber vs JioFiber.
Jio announced the introduction of JioTV Premium plans for prepaid mobile users providing access to premium content from up to 14 OTT platforms, along with voice and data benefits. These plans offer the convenience of accessing content from multiple OTT apps in one place through the JioTV app.
Jio users would have the flexibility of choosing monthly, quarterly or annual subscriptions starting at Rs.398 and would also get one-click call center support which is an industry first in prepaid segment.
TM Forum, the leading global alliance of telco and tech companies and Jio opened an Innovation Hub in Mumbai during the quarter. The Innovation Hub, the first of its kind for the industry, will focus its first efforts on accelerating the development of Generative AI (Gen AI) and Large Language Models (LLM) and Open Digital Architecture to benefit the whole industry.
During the quarter, Jio also announced a partnership with network services and consumer experience pioneer Plume to provide market-leading smart home and small business services to its subscribers across India.
With this partnership, Jio will deploy HomePass and WorkPass consumer services enabled by Plume’s AI-powered and cloud-based platform, including whole-home adaptive WiFi, connected device and application performance optimization, cyberthreat protection for connected devices, advanced parental controls, and WiFi motion sensing.
Access to Plume’s Haystack Support and Operations Suite will also enhance Jio’s customer support and operations and improve overall customer experience.
Overall, Reliance Industries reported Profit After Tax of Rs.19,641 crore in Q3 2024 up 10.9% on Rs.17,706 crore for the corresponding quarter of 2023.
The nine-month Profit After Tax was Rs.57,777 crore, down from Rs.73,670 crore a year ago. fiinews.com
