Reliance AGM 2023: During the Annual General Meeting (AGM) today, Reliance Jio announced its latest product, Jio AirFiber. The company has unveiled its plans to launch Jio AirFiber on September 19, coinciding with the Ganesh Chaturthi festival. The company asserts that this expansion will effectively extend Jio‘s network to encompass a user base exceeding 200 million people.
As per the announcement, as many as 1,50,000 connections of this service can be provided daily. With an existing customer base of 10 million JioFiber users, the company further boasts an extensive optical fiber network that spans an impressive 1.5 million kilometres. Introducing a comprehensive range of offerings, Jio has brought forth Jio Smart Home devices that will operate in connection with JioFiber and Jio AirFiber.
What is Jio AirFiber?
The primary objective of the high-speed internet service is to provide fiber-like speed wirelessly, eliminating the need for physical wires. As indicated by the data provided on the Jio website, the utilization of JioAirFiber is as simple as plugging it in and powering it on. This straightforward process empowers users to establish their personal Wi-Fi hotspot within their residence, connected to ultra-high-speed internet utilizing True 5G technology. With the introduction of JioAirFiber, establishing rapid connectivity for your home or office to Gigabit-speed Internet becomes remarkably convenient.
Alongside this, the company has unveiled a new Jio router and Setup box. Notably, the set-top box showcases an innovative feature enabling the use of smartphones as gamepads. Reliance Jio’s Chairman Akash Ambani said, “Over 80% of data consumption in India happens indoors. I’m thrilled to introduce Jio Smart Home services, which is poised to redefine how we experience and manage our homes’.
Mukesh Ambani speaks on RIL’s revenue
During the Reliance AGM 2023, Mukesh Ambani announced that Reliance Industries Limited (RIL) achieved consolidated revenues of ₹9,74,864 crore, with an EBITDA of ₹1,53,920 crore for the fiscal year 2022-23. Furthermore, the net profit amounted to ₹73,670 crore. In addition to these developments, Chairman Mukesh Ambani also revealed that Reliance Industries Limited (RIL) has collectively invested over $150 billion over the past decade.
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