What to expect from Mukesh Ambani at Reliance Industries' AGM
- Ambani might announce the launch of Jio Phone 3, which is yet another branded and economical smartphone.
- Ambani could also be speaking of his grand plans on fixed line or fibre-to-home FTTH business.
- Jio has plans to FTTH across 1,600 cities thereby connecting 75 million homes.
It might be an interesting year to watch what India richest man would tell his shareholders. In the last few years, he has been busy painting a lush green picture of his latest venture—Reliance Jio which disrupted India’s telecom market or will say something that shareholders would want to listen- that he is increasing prices?
Yet, the whole industry is expecting them to speak about the launch of Jio Phone 3, which is yet another branded and economical smartphone from the Jio stable. In addition, Ambani could also be speaking of his grand plans to launch fixed line or fibre-to-home FTTH business.
“In countries with better developed communication infrastructure, more than 80% of data consumption happens indoors through fixed-line connectivity in homes, in offices and other premises,” Ambani said in his last AGM.
The company is known to have conducted a soft launch of FTTH at a few cities already. It plans to launch it across 1,600 cities thereby connecting 75 million homes.
Telecom to retail
Ambani does not intend to keep his telecom business separate from other businesses. He has been hinting that he would integrate his retail business and use the might of telecom connectivity and apps, to create an entity that can rival Amazon.
Jeff Bezos, one of the few top billionaires of the world, now seems to be intent on buying out stake this possible e-commerce giant in the making.
When Ambani enters a consumer business, he tends to wipe out the rivals, which is a reason why Bezos wants to land a piece of the pie. “We are determined to connect everyone and everything, everywhere – always at the highest quality and the most affordable price,” Ambani said in 2018, sounding off an alarm.
Popular on BI
- A top AI researcher reportedly left Google for OpenAI after sharing concerns the company was training Bard on ChatGPT data
- An AI researcher who has been warning about the technology for over 20 years says we should 'shut it all down,' and issue an 'indefinite and worldwide' ban
- What is an indictment? What it means for someone to be indicted by a grand jury and why Trump was charged
- India reports 3,824 new Covid cases
- 77% of young Indians now spend the most on phones, apparels
- Global Pharma recalls 50,000 tubes of contaminated eye drops in US: USFDA
- Former India cricketer Salim Durani passes away aged 88; PM Narendra Modi, Ravi Shastri lead tributes
- India successfully achieves autonomous landing of Space vehicle