For Credit Suisse, the Reliance Jio 4G LTE launch has been one of its key worries in the telecom space for the past few years. According to an ET Now report, Credit Suisse continues to be cautious on the telecom space. “Our initial impression is that these may not be the final tariff offers. We suspect a new set of tariffs could be announced closer to January,” Credit Suisse told the channel. While stating that the Rs 149 data tariff plan is “right in the mass segment” for Jio, Credit Suisse added that incumbents will have ample time to match the offers post January 1, 2017.
Announcing the launch tariffs, Ambani said, we have a plethora of plans. “We start from Rs 19 per day data plan for the occasional data user. Then there is a Rs 149 monthly plan for the light data user. The data plan for the heaviest user goes up to Rs 4,999 per month,” he said. “We have provided the lowest LTE data rates in the world,” he added. Ambani went on to say that Jio is also rolling out many wi-fi hotspots across the country. “By the middle of the next year, we will have 1 million wi-fi hotspots across India,” he promised.
Mukesh Ambani began the 42nd AGM of Reliance Industries by talking about his plans for the launch of Reliance Jio. “Jio means to live and to be alive to very opportunity. World’s demand for digital oxygen, that is data, is growing exponentially. Jio aims to fulfill this need of Indians. Access to information will now know no barriers,” he said.
Reliance Jio has sent jitters in the telecom industry, with incumbents like Bharti Airtel, Vodafone and Idea Cellular aggressively offering freebies and discounts to woo new customers and retain existing ones. Brokerages have noted that Airtel, Vodafone and Idea have cut tariff and bundled free calls with data to drive mass market adoption.