Tuesday, 24 October, 2017

DTH stocks fall up to 6 pc on announcement of Jio phone

Reliance AGM 2017: 'Free' 4G VoLTE feature phone launched JioPhone: Reliance Jio's Basic Phone with VoLTE Support Launched
Javier Burns | 22 July, 2017, 00:51

Jio has enjoyed a meteoric rise since its launch a year ago, with its months of free services and sharply discounted plans battering the fortunes of incumbent telecom players in India such as Bharti Airtel (BRTI.NS) and Idea Cellular (IDEA.NS), who have seen revenues and profits shrink dramatically.

The scrip of Dish TV India plunged 5.85 per cent, Sun TV Network went down by 2.65 per cent, Hathway Cable & Datacom fell 2.58 per cent, GTPL Hathway (2.28 per cent) and Den Networks (0.13 per cent) on BSE.

The announcement comes nearly a year after Ambani launched the Reliance Jio 4G network with free voice calls for life and vastly cheaper data plans, forcing rivals to dramatically slash their tariffs. "TV would also hurt the cable TV industry", said Nitasha Shankar, Sr Vice President and Head of Research, YES Securities.

Mukesh Ambani's Reliance Industries, whose digital arm, Jio, had caused revolution in data connectivity when the company offered unlimited free data to its customers a year ago, has now announced it will provide free smartphones to its customers.

He said customers would only have to pay a deposit of 1,500 rupees ($23.32) for the 4G-enabled device, which would be fully refundable after three years. A JioPhone user can use the phone for 36 months and get back the deposit amount. This is going to disrupt the smartphone market.

Effectively, that means the Reliance Jio handset costs a consumer nothing.

The move by Reliance can prove to be the next disruptor in India's telecom market.

Indiana Police release sketch of suspect in 2 killings
Investigators are asking the public to study the man's facial features and contact them with any information on him. Other details about the deaths, including how the girls were killed or a possible motive, have not been released.

"Every Rs 1,000 invested in Reliance Industries' shares in 1977 is now worth Rs 16.5 lakh", Ambani said.

The JioPhone supports all Indian languages. The phone is available for beta-testing from August 15 and for pre-booking from August 24. The cheapest Jio plan is higher than the current ARPU, albeit with data benefits. Jio Phone comes with few pre-loaded apps such as Facebook, PM Modi's Man ki baat app, Jio browser and other Jio apps.

The mood was upbeat as Ambani announced that "Jio, in next 12 months, will cover 99 per cent of our country's population".

He said the physical distribution network across India was being expanded to support the enhanced coverage. "In addition, we will integrate with all major e-commerce platforms", he added.

Jio has 125 million customers across the country.

"This was the fastest adoption of any technology service, anywhere in the world". "There will be a fair usage policy of half a gigabyte per day, to ensure that bandwidth is fairly apportioned for every user", said Ambani. "Now India is number 1 in mobile data consumption and well on its way to becoming number 1 in mobile broadband penetration, in the coming months". "Today, Jio has more than 100 million paying Jio Prime customers".

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