Reliance Industries (RIL) will start commercial operations of its much-awaited telecom services in December, offering a 4G smartphone for as low as Rs 4,000 and a monthly bill of Rs 300-500, its Chairman Mukesh Ambani said today.
Unveiling a road map to propel the oil refining-to-retail major to a select group of most valuable companies in the world, Ambani told shareholders that RIL will complete over Rs 2 lakh crore of projects in core oil and petrochemical businesses as well as new ventures like telecom in the next 12-18 months to add capacity.
Reliance Jio Infocomm, the firm's telecom arm, is testing network with a 'beta launch' due over the next few months and commercial operations around December.
Ambani's re-entry into the telecom business nearly a decade after Dhirubhai Ambani's Reliance empire was split and the communication business went to younger sibling Anil, will include offering voice and high-speed data services such as viewing HD television.
Looking to tap the surging voice and data demand, Ambani said the 4G-enabled smartphone in India will be priced below Rs 4,000 by December.
The company also plans to launch many software applications for providing news and entertainment services to its telecom services users, he added.
"Our plan is to provide the same power of computing, communication and information to every individual, whether in towns or rural areas, that the US President had 10-15 years ago. All this at about Rs 300 to Rs 500 per month," he said during his over-an-hour long speech, a third of which was devoted to Jio.
Targeting 100 per cent national coverage within the next three years, Ambani said Reliance Jio has applied for a pan-India cable television multi-system operator (MSO) licence and plans to enter into broadcast TV distribution.
Besides, it has partnered with the State Bank of India to apply for a payments bank licence.
