Reliance Industries AGM 2018: Mukesh Ambani speech; 5 key takeaways

Reliance Industries AGM 2018: RIL chief Mukesh Ambani today unveiled a new fibre broadband system across 1,100 cities, stepping up its push on internet services. The company`s telecom arm, Jio, has 215 million customers and is on track to cover 99 percent of the country, revealed Ambani, while addressing the company`s annual general meeting. Key takeaways of Ambani's announcements:
 
1. Mukesh Ambani announced plans to launch ultra high speed fixed line broadband services for homes and enterprises. He said the service will provide ultra high definition entertainment on TV, voice activated assistance, virtual reality gaming and digital shopping as well as smart home solutions. This announcement came after shaking the mobile telephony market with free voice calls and cheap data. Registration for fixed line broadband service will begin from August 15, he added.
 
2. Ambani said, "We will now extend fiber connectivity to homes, merchants, small and medium enterprises and large enterprises simultaneously across 1,100 cities to offer the most advanced fiber-based broadband connectivity solutions," adding the company's telecom service will move India to top five nations in fixed line broadband in coming year. Ambani said, " We are calling this fiber based broadband service Jio Giga Fiber.  

3. The fixed line broadband will offer "ultra high-definition entertainment on large screen TVs, multi-party video conferencing from your living room, voice-activated virtual assistants, virtual reality gaming, digital shopping, immersive experiences," Mukesh Ambani said.
Watch this Reliance AGM video, courtesy Jio twitter

Join us for the Reliance AGM 2018 to catch all the action LIVE. #RILAGM https://t.co/Gfmmm992tR

— Reliance Jio (@reliancejio) July 5, 2018

5. Since its launch in September 2016, JioPhone has made India the highest mobile data consuming nation. Ambani said since its launch, Jio has amassed 215 million customers and has sold over 25 million JioPhones. The RIL Chairman said the JioPhone will provide Whatsapp, Facebook and Youtube commercially from August 15 this year. Ambani said he is targetting 100 million JioPhone users in 'shortest possible time'. He also announced that Jio Phone Monsoon Hungama starting July 21, where feature phones can be exchanged for Jio Phone for Rs 501. Reliance, he said, has reached an inflection point with consumer business contributing as much as its energy and petrochemical.