Reliance Jio Infocomm is the mobile Internet market leader with 117.34 million users.
Another big announcement that Mukesh Ambani made at the company's 40th Annual General Meeting was that the company will issue bonus shares in the ratio of 1:1 for its shareholders.
Until today, rival companies like Bharti Airtel, Idea Telecom and others are feeling the heat and bleeding money to compete with Ambani's grand project. That's what was announced at the AGM. Jio has to somehow figure out a way to get into the mix and with the free bundled data plan it plan to offer, it expects users to start using Jio services. Also, the company has launched a new JioPhone TV pack for Rs. 309 to mirror their JioPhone content on any TV via a cable that can even be plugged into CRT TVs.
The interconnection and cable will work with any TV with AV in ports.
The pre booking of Reliance Jio 4G phone will start from August 24th. The company is touting the handset as "India ka smartphone". After crossing that limit, you can still use Internet - hence the use of the word?unlimited - but the speeds will drop and will only reset at the end of the day. Most standard feature phones in India only work on older 2G and 3G networks. FM radio is present in the phone. It supports the Hindi language for giving the voice command.
This seems like a remarkable phone in this segment and considering that it is free, there is nothing to lose. Also, Reliance has now come up with two recharge plans. There are lot many impressive features in the phone which provides a lot more over a regular feature phone.
To buy JioPhone, users need to make a deposit of Rs 1,500 to Reliance Jio which will be refunded after 3 years.
"With the JioPhone, these users will get a taste of data and video which they have not been able to till now since there was no offering at such price points". Essentially, you don't own the phone for the entire duration of your usage.
Bharti Airtel and Idea Cellular have endured losses since Jio's arrival and shares in the companies fell almost three percent and six percent respectively following Ambani's announcement Friday. However, after three years, the deposit would be refundable.