Mumbai: The Jio startup started by Mukesh Ambani has successfully become the top Indian telecom industry.
Barely three years into the business and it has hooked 330 million people to its services and has almost replaced the other telecom service providers.
Ambani’s main aim with the start-up is to offer people not only with the mobile data and economic internet charges but also offer movies, music and e-commerce services creating an unbattered monopoly. Many states that if it happens, the venture will be a combination of US’s AT&T and Jeff Bezos’ Amazon. The start cost Ambani an amount of $40 billion.
With Jio, it possible for people to do free voice calls. India’s mobile data which was once the most expensive to buy has now become cheapest with its price just $0.26 per gigabyte compared to China’s $9.89 according to a study by cable.co.uk.
The economic prices have battered the competition but has also allured millions of people to the online world encouraging people to swap their old mobile handsets with the Jio feature enabled phones.
The shareholders of the company have been patient or we could say encouraged by the cash flows from the core businesses. Ambani sold of the fixed asset – mobile tower to outside investors, including Canada’s Brookfield Asset management. Ambani’s next mission is to make India one of the top three nations for fixed-line broadband penetration.
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