"The potential for growth is enormous and half a billion customers, is now I believe well within our reach", he said.
Of all the announcements, the Jio Blockchain turns out to be major news. At present, Jio users get a free subscription to Hotstar.
Macquarie upgraded Reliance to outperform and also raised target price to Rs 1,370 from Rs 1,220, implying 19 percent potential upside following the stream of bullish newsflow at the AGM. Among these announcements were some details of the Jio Set-Top-Box (STB), a device that will be included with JioFiber connections.
"Jio Fiber Services to be launched on commercial basis on 5 September 2019 - on the third anniversary of Jio's launch". Voice calls from home will be absolutely free forever for all Jio Fiber subscribers with ISD calls being offered for much lower as well. It also announced a planned investment in the petrochemicals and refining business of the Indian comglomerate Reliance Industries.
RJio had soft-launched broadband services past year and had received interest from 15 million users.
And now, it's going to launch commercially on 5 September 2019 across India on Jio's three year anniversary with the aim of reaching 20 million households and 15 million businesses.
Jio Fiber customers are set to receive bundled subscriptions to "most leading premium OTT applications", Mukesh Ambani announced at the AGM. Which ones? Well, we don't know yet. Moreover, Jio Fiber will launch a premium service where customers can watch movies at home on the release day itself, which will be launched in the middle of 2020.
Critical WhatsApp Exploits Remain Unresolved Even After a Year, Claims Check Point
A group of researchers at security firm Check Point has highlighted vulnerabilities in popular messaging app WhatsApp . On Facebook's end, the other two vulnerabilities could not be resolved due to "infrastructure limitations" on WhatsApp.
Reliance Industries chairman Mukesh Ambani has said that its consumer businesses, Jio and Reliance Retail have "received strong interest from strategic and financial investors". Global voice calling will also be available through the fixed-line, with one of the plans revealed to have unlimited calling to the USA and Canada for just ₹500 ($7) per month, though most families now utilize app-based free calling solutions such as WhatsApp.
Jio also struck an alliance with Microsoft and also rolled out its commercial launch date for fibre to home among other measures to boost subscriber numbers.
That being said, Ambani also said the plans offered by Jio can also go up to ₹10,000 per month.
The popularity of Reliance Jio has pushed the company to list it's telecom business separately.
Reliance Jio is yet to announce whether there are any other charges attached.
Additionally, the STB will support UHD content (4K), voice-enabled virtual assistants, and even offer smart home controls. Micro, small, and medium businesses are now paying up to Rs. 20,000 per month for connectivity, productivity, and automation tools, Ambani said. BSNL's Bharat Fiber plans start from Rs 777 to Rs 16,999 per month. According to Ambani, this is the biggest foreign investment in the history of Reliance and is among the largest foreign investments in India.