The much anticipated Jio Phone is finally announced. The time chosen by Reliance Industries Limited Chairman Mukesh Ambani cannot be more perfect. The announcement came on the day of the company’s 40th Annual General Meeting.
Here are the highlights of announcements and promises made by Mukesh Ambani – commendable indeed:
“In just 4 decades, Reliance has grown from a small startup to one of the largest companies in the world. RIL turnover up 4,700 times to over Rs 330000 cr in 40 years; profit grows 10,000 times to Rs 30000 cr:. Our total assets have increased from 33 crores to over 700,000 crores and a multiple of over 20,000 times.
Above all, market capitalization has multiplied from ten crores to over five lakh crores. This year marks the 40th anniversary of our IPO. Rs 1,000 investment in 1977 is today worth Rs 16.5 lakh. I want to dedicate these 40 years of achievements and records to our founder Chairman Shri Dhirubhai Ambani.
No Indian corporate expanded so fast in scope, scale, size & service. Jio acquired 100 million customers in 170 days. Since the launch of Jio, data consumption has gone up from 20 crore gigabits per month to 120 crore gigabits a month. Now, Jio customers alone are consuming over 125 crore GB of data a month, including 165 crore hours high-speed video every month making Jio the largest mobile video network.
Indeed, India has overtaken the US and China in mobile data usage. Before Jio’s launch, India was 155th in the world in mobile broadband penetration. It took 25 years for our competitors to build 2G network. Jio will have created a larger 4G network in just 3 years. Jio has broken one world record after another. Out of 78 crore mobile phones in India, 50 crore feature phone users left out of digital revolution.
Today, Jio is going to reinvent the conventional feature phone. Let me introduce India ka Intelligent SmartPhone. On the Jio Phone, voice will always be free. Starting 15th August this year, I am declaring DIGITAL FREEDOM for all feature phone users. Jio will give them access to unlimited data on the Jio Phone.
If these users were to consume a similar quantity of data on other operator’s network, they would spend Rs 4,000–5,000 per month Jio will provide this at only Rs 153 per month, that is one-thirtieth, 3% of the existing price. But that’s not all. There is one more thing. You may want to know how much the Jio Phone will cost.
Today, I am delighted to announce that Jio Phone will be available to all Indians for an effective price of – Rs 0. To protect against misuse of the free Jio Phone offer we plan to collect a fully refundable, one-time, security deposit of Rs 1,500 with every Jio Phone.
From 15th August, 2017, all Indians will have access to the highest quality & quantity, affordable & unlimited data. This is how Jio will end the digital exclusion in India. And this is what I call true digital freedom.
Reliance dedicates JioPhone to the nation on the joyous occasion of [email protected], 70th anniversary of India’s Freedom. Digital Life will no longer be the privilege of the affluent few. Reliance democratized the equity culture in the past. Now, Jio will democratize the digital culture in India.
Jio will be the greatest accelerator of the Bharat-India connectivity. The JioPhone will be available for user testing in beta from 15th August and for pre-booking from 24th August. Jio will be the greatest accelerator of the Bharat-India connectivity.
From last quarter of 2017, all JioPhones will be made in India. We are targeting to have 5 million JioPhones a week. I want to publicly thank all Jio employees and applaud their contribution to our company, and our nation.
As Reliance marches towards its Golden Jubilee, today we commence our Golden Decade. We will always live by your ideals, vision & values and build a New India of Dhirubhai’s dream. This is our solemn commitment. And this is my promise to all of you.
The net profit of Rs 29,901 crore is the highest in the Indian corporate sector. Reliance remains India’s largest exporter with 8% of total merchandise exports with a value of Rs 147,755 crore. Reliance is the highest income tax payer in the private sector in India and paid Rs 8,880 crore as during the year.
We, at Reliance, congratulate the Government on its historic step of introducing the GST regime. We are proud to say that one in every ten Indians shops with us. This year, Reliance Retail crossed Rs 33,000 crores.
Every minute, 8 smartphones; every hour, 42 laptops and 68 TVs are sold at Reliance Digital. In fuel retail, we re-commissioned 142 new outlets during the year. Reliance Foundation’s Education for All initiative now impacts the lives of 100,000 children.
What did Dhirubhai teach us? Ambition. Still more ambition. Initiative. Still more initiative. Innovation. Still more innovation. Team work. Still more team work. My father also taught us to be humble. And to never forget that the nation expects a lot more from us in the future.
Today I assure the people of India that Reliance will do everything, and more, to meet the nation’s expectations. As we march toward the Golden Jubilee of Reliance in 2027, I can confidently say that the Golden Decade of Reliance has begun.”