Reliance Jio set to bring telecom revolution in India
Key takeaway’s from Mukesh Ambani’s Reliance AGM speech:
- Reliance Jio subscribers to get lifetime calls for free on own network as well as other networks (Local & STD)
- Users to get 10 data plans to choose from
- 4G Internet data cost to be around Rs 50 per GB
Much of the AGM saw Ambani take a page out of India’s political class and Apple’s Steve Jobs’ books, in a performance that was marked both by a new vision of the way India should consume data as well as a number of pandering statements.
The announcements themselves were surprising: free voice calls, cheap 4G data rates, dirt-cheap 4G devices and the promise of unrestricted Internet access. Although the details of Jio’s commercial launch, which were announced today, were largely known throughout the industry, the AGM was met with stunned silence at Reliance’s biggest rival’s office in New Delhi, according to industry executives The Wire spoke with.
At the AGM, Ambani also announced that Jio services will become available from Monday, September 5, absolutely free as part of the ‘Jio welcome offer’, so everyone can try Jio’s services at no charge.
“Pay for only one service – either voice or data, not both,” he said. “World over, operators charge only for data, voice and messaging are essentially free. All voice calls for Jio customers will be absolutely free.”
The Jio 4G tariffs start at Rs. 149 for 28 days, for 300MB. For Rs. 499 per month you get a big step up, to 4GB of 4G data, plus unlimited 4G at night, for 28 days. You’ll also get 8GB of access from Reliance Jio’s upcoming network of Wi-Fi hotspots, further increasing the amount of data you can use. For Rs. 999, that goes up to 10GB of 4G data, and 20GB of Wi-Fi usage, plus unlimited usage at night. Further plans are for Rs. 1,499 for 20GB, Rs. 2,499 for 35GB, and Rs. 3,999 for 60GB of 4G data, and twice as much Wi-Fi usage respectively. The most expensive plan is for Rs. 4,999 for 75GB of 4G usage plus unlimited 4G usage at night, and 150GB of Wi-Fi data. These are all pre-paid tariffs, and Jio has not revealed its post-paid plans.
Sensex ends 29 pts lower; telecom stocks plunge on RJio fears
Market benchmark BSE Sensex today erased its early gains to end lower by 29 points, halting 3-day winning run, following emergence of sell-off mainly in telecom stocks after new entrant Reliance Jio came out with free voice calls and cheaper data tariffs.
In early trade, investors seemed cautious in view of overnight dismal GDP data — showing the economy grew at its slowest pace in six quarters — and subdued infrastructure output data, while most of the participants preferred wait and watch policy in need of a direction ahead of US jobs report due tomorrow which would signal Fed’s next move on rate hike.
The Sensex resumed higher at 28,459.09 and firmed up to a high of 28,548.85 on sustained buying by funds and retail investors. But, it fell afterwards to 28,386.61 before ending at 28,423.48, showing a loss of 28.69 points or 0.10 per cent.