Reliance Industries chairman Mukesh Ambani will be addressing the company’s Annual General Meeting (AGM) today on July 21, and the event will officially start at 11.00 am. The AGM will see Ambani make announcements around RIL’s (Reliance Industries Limited) key businesses, including Reliance Jio. Now it is expected that there will be at least one “consumer-centric” announcement by Ambani at the event, and there is speculation that this could be an announcement around the Jio LYF brand 4G VoLTE feature phone.
In the past couple of weeks, several reports have talked about Jio’s upcoming 4G VoLTE feature phone, which if launched could significantly boost the company’s user base in India. Reliance Jio has over 120 million subscribers on its 4G VoLTE network, and the lack of 2G or 3G support, it is missing out on a huge chunk of user base.
Reports in Business Standard have indicated that Foxconn is manufacturing the Reliance Jio 4G VoLTE feature phone. Meanwhile Economic Times has quoted Intex as saying they are working with Reliance Jio on the feature phones, and these will come bundled with the services. A report on Gadgets360 NDTV said that Jio’s feature phone will run KaiOS, a forked version of Firefox OS, and it will also have its own app store.
Reliance Industries which declared their results yesterday, also said that Jio’s LYF brand sold over 1.5 million devices, accessories in Q1 of 2017. Jio has been offering discounts on LYF branded phones on its website.
Follow live updates of Reliance Industries AGM below
10.59 am: RIL has a live feed of the AGM on its YouTube channel. The Jio YouTube channel will also have a live stream for the same.
11.00 am: RIL chairman Mukesh Ambani starts speaking at AGM. Says RIL has gone from being a small startup to one of the largest, most admired companies in the world in just 40 years. “From a textile company, we have created multiple growth engines.”
11.03 am: “Our turnover has grown from 70 crores to 3 lakh, thirty thousand crores today in the last 40 years.” Net profit of RIL is 30,000 crores, from 30 crores, nearly 40 years ago.
11.08 am: RIL now employes 250,000 people all across the world. Used to have 3500 employees in 1977.
11.09 am: “I want to dedicate these achievements of 40 years to our founder chairman Shri Dhirubhai Ambani.”
11.11 am: Ambani begins AGM by talking about Reliance Jio. “Jio has broken one world record after another.”
11.12 am: Reliance Jio over delivered on the 100 million targets, says Ambani. In less than 170 days, 100 million customers on Jio service. Average Jio added 7 customers per second every single day.
11.13 am: This is a testament of the trust that Indians have placed in Jio: Mukesh Ambani. Jio has 125 million customers.
11.14 am: We proved skeptics wrong. People had said VoLTE is unproved technology, but we proved them wrong with Jio: Mukesh Ambani.
11.15 am: Jio users make 250 crore minutes of voice call everyday, says Mukesh Ambani. Thanks PM Modi for Digital India as well.
11.16 am: In India, data consumption went from 20 crore GB per month to 120 crore GB per month. Jio customers including over 125 crore GB of data per month. This includes 165 crore hours of high speed video. This makes Jio the largest mobile video network in the world. India has overtaken China, US in mobile data usage.
11.18 am: India is the number one in mobile broadband penetration after the launch of Reliance Jio.
11.20 am: Starting March Jio took largest the free to paid migration. We now have 100 million paid customers, who have paid more than Rs 309 recharge. Jio Prime members will get special tariffs and benefits, says Mukesh Ambani.
11.25 am: India has 78 crore mobile phones of which 50 crore are features phones. These users are left out of 4G VoLTE features. Data is oxygen of digital life, and no Indian should suffer because of data scarcity, says Mukesh Ambani.
11.26 am: Jio committed to end this digital starvation, says Mukesh Ambani. Likely to talk more about this feature phone. Jio will fix this in three ways: Connectivity, Data Affordability and Device availability.
11.27 am: TRAI has consistently ranked Jio as the number one network in 4G coverage, usage and speeds, says Mukesh Ambani.
11.30 am: Jio will soon cover 99 per cent of the population in India soon, says Mukesh Ambani.
11.31 am: Reliance Jio to have 10,000 more offices. Will integrate with most e-commerce platforms as well.
11.32 am: “Unfair that 50 crore Indians still have to pay for voice, says Mukesh Ambani. The cost is Rs 4000-Rs 8000 for every GB of data, while their smartphone counterparts get the data for cheaper. This makes it impossible for them to consume 2G data,” says Ambani.
11.33 am: “Even an entry-level smartphone costs Rs 3000-Rs 4000 make it impossible for feature phone users to upgrade,” says Ambani. Calls it a critical problem.
11.34 am: “Jio will reinvent the conventional feature phone with a device made in India for Indians,” declares Mukesh Ambani.
11.35 am: Reliance JioPhone has been announced, and this is a smartphone. It looks like a feature phone, designed to be easy to use. Jio calls its the most intelligent, affordable phone in the world.
11.37 am: JioPhone has a keyboard. Users can speak to the phone as well with voice commands. It also supports all Indian languages.
11.40 am: JioPhone comes with the option of browsing the internet. The highlight of this phone is the 4G VoLTE, it has a voice command interface, and comes pre-loaded with Jio’s apps loaded on it.
11.41 am: JioPhone has 2.4-inch display, and can play the JioCinema app as well. So users can watch movies on this feature/smartphone smash. It has an SOS feature as well, which can be activated by pressing 5.
11.43 am: JioPhone to get NFC feature in the future. Will support quick payments with one tap as well. Software upgrade will be rolled out for this feature.
11.46 am: JioPhone a truly revolutionary phone, says Mukesh Ambani. All voice calls will be free on this feature phone on the Jio network. JioPhone will have a lower data tariffs, and this is a 4G VoLTE phone. JioPhone to launch on August 15.
11.48 am: JioPhone to have unlimited data at Rs 153 per month on this 4G VoLTe feature phone/smartphone.
11.50 am: JioPhone will let users broadcast their JioTV app on their television, and the pack will cost Rs 309 per month for this. So the JioPhone has the TV cable accessory as well to cast content. Will support old CRT TVs as well. Rs 309 per month will let them watch 3-4 hours of video on a large screen.
11.52 am: JioPhone has two sachet plans of Rs 24 for days and Rs 54 per week, which have the same features.
11.53 am: Mukesh Ambani recapping all the key announcements. Jio will ensure 4G coverage is more than 2G coverage in the next 12 months. JioPhone is the highlight out here. JioPhone users have a special plan of Rs 153 per month.
11.55 am: One more thing at the AGM. Price of the JioPhone: Rs 0. However there is a full refundable charge of Rs 1500, and the security deposit can be claimed after 36 months, which is three years.
12.02 pm: Pre-bookings from August 24 for the JioPhone. All JioPhones will be made in India by the end of the year. 5 million JioPhones to be made available every week.
12.03 pm: Ambani calls it the next big monetization opportunity for Jio. Thanks all Jio employees for making this a success.