Reliance released its weapon ‘Jio’ on the Telecom industry and emerged as a prominent leader. Starting out with just a mere 1.52% market share, Jio has grown to capturing 35.14% (as of Feb 2024). It holds the world’s third largest subscriber base in connectivity.
Rolling out its operations commercially on 5th September, 2016, it has continued to dominate the and internet users. Starting out as a way to help his daughter fill out college coursework for Yale. Mukesh Ambani has successfully created a giant not only in telecom but now in OTT providers as well.
Jio Fiber and Much More!
On its third anniversary, they decided to release JIO FIBER- now a common household term for the ‘wifi’ we all can’t live without. At one of the lowest costs available in the market, a mere 399 rupees per month, one can avail high speed internet with a minimum speed of 100mbps.
With only a small increment, for 999 rupees per month, there is availability of high speed data. Along with 15 OTT Apps including the likes of Netflix, Amazon Prime, Disney+ Hotstar etc.
This leap in growth has been possible due to the smart marketing strategies and competitive pricing adopted by the company. The chairman claimed that their plans are at less than 1/10th of global rates. Akash Ambani said, “Jio Fiber is already the largest Fiber provider in the country with over a million connected homes”
The care for the user’s experience by Jio is what places it above all. Accessing a wide range of services is challenging for most Indians with incomes from 8,000 to 1,43,000 rupees monthly. These services remain elusive due to affordability constraints.
Jio provides internet, unlimited voice calls, complimentary apps like JioCinema and JioSaavan and access to premium OTT services. It also takes care of an aam aadmi’s regular needs like: retail, grocery, fintech, medical, agricultural, e-commerce, and e-payment.
The Digital and Telecom business of Reliance Industries is held by their subsidiary called Jio Platforms. To make this is a success story, Jio Platforms has till date raised about $24 billion by selling 33% stake of the company. Interestingly, Meta is a also a 9.99% stakeholder in Jio Platforms.
With the rise in consumption of the internet and its services, Jio Platforms is a company to bet for the future.