Tariff hike by Reliance Jio has delighted incumbents like and Airtel and Idea. Here's why
Business | October 24, 2017 12:21 ISTShares of Airtel and Idea rallied sharply on the tariff increase by Reliance Jio.
Shares of Airtel and Idea rallied sharply on the tariff increase by Reliance Jio.
With Jio's new Rs 459 plan, Jio Prime members can avail unlimited services at 1GB high speed data per day for three months followed by data at curtailed speed, along with unlimited voice calling and access to Jio apps.
Jio genertaed Rs 6,147 crore of revenues in the three months up to 30 September 2017, though it made a loss of Rs 271 crore.
Reliance Jio subscribers would be eligible for a 100 per cent cashback of Rs 400 on a recharge of Rs 399 in a new Diwali offer.
Sunil Mittal said Airtel is awaiting a report by a high-level inter-ministerial panel and the government on stress in the telecom sector.
RIL chairman Mukesh Ambani's wealth rose 67 per cent from $22.7 billion last year to $38 billion this year making him one of Asia's top 5 richest.
"With artificial intelligence (AR), virtual reality (VR), visual graphics, natural language processing and natural language thinking, the way we are doing business will surely change in months to come."
Earlier, there were reports that Reliance Digital would offer a 70 per cent buyback on iPhone 8 and 8 Plus after one year on the original purchase price to those returning the device.
According to industry sources, Jio carries more than 100 crore GB data per month.
Airtel chief Sunil Mittal spoke about collaborating with Mukesh Ambani's Jio on technologies for the future and for creating synergies in new investments.
Speaking at the India Mobile Congress, Reliance Industries Ltd Chairman Mukesh Ambani said data is the new oil and India does not need to import it.
Wireless sector is slowly moving from a hugely customer-friendly market towards either oligopoly, duopoly or potentially a monopoly
Reliance Jio began shipping the JioPhone on Sunday and aims to deliver 6 million units by Diwali.
Customers in rural areas and small cities will get the deliveries of the handset before their counterparts in urban areas.
Pre-booking of the JioPhone had started on August 24 against payment of a refundable deposit of Rs 500. The remainder Rs 1,000 has to be paid by the customer when the company starts delivering the handsets.
Pre-bookings for Apple's iPhone 8 and iPhone 8 Plus can be done on online as well as offline stores
Investment banking firm CLSA expects the reduction in IUC to translate into 8 per cent higher consolidated earnings per share for RIL between FY18 and FY20
Sharma said the IUC charge finalised by TRAI was driven by considerations of consumer and industry interest, competition and march of technology
Shares of Reliance Industries scaled to a new all-time high following TRAI's decision to cut IUC to 6 paise per minute from October 1
TRAI's move towards scrapping call connect charges could result in lower mobile bills, provided operators transfer the benefit to consumers.
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