Reliance Jio Infocomm Limited is an Indian telecom company which is a subsidiary of Mukesh Ambani-led Reliance Industries Limited (RIL). The telco is headquartered in Mumbai, Maharashtra. Jio was launched on December 27, 2015. The telecom service provider operates a national 4G LTE network with coverage across all 22 telecom circles in India. Reliance Jio has over 38.8 crore subscribers.
In August 2017, the company introduced its feature phone called JioPhone to reach the masses that could not afford smartphones to support Jio's LTE network. By 2019, Jio had its content apps such as JioCinema and JioTV. The company launched fiber to home service in September 2019. The service offers home broadband, television and telephone services at very competitive rates. Jio has also launched Wi-Fi routers by the name JioFi.
Various Jio apps include JioChat, JioCinema, JioCloud, JioMags, JioMoney Wallet, JioSaavn,JioSecurity, Jio4GVoice, and MyJio.
Reliance Jio is the biggest telecom company in India. Jio turned profitable within less than 18 months of its commercial launch. The telco created a world record in customer acquisition in one month of its commercial launch. It is the fastest by any other company including Facebook, WhatsApp and Skype.
On May 4, global tech investor Silver Lake announced an investment worth Rs 5,655.75 crore in Jio Platforms at an equity value of Rs 4.9 lakh crore and an enterprise value of Rs 5.15 lakh crore. Similarly in April 2020, Mark Zuckerberg-led Facebook acquired a 9.9 per cent stake in Jio, which was the highest foreign direct investment in the Indian technology sector.
Copyright©2022 Living Media India Limited. For reprint rights: Syndications Today