New Delhi: Mukesh Ambani has launched a wired broadband service JioGigaFiber at the 41st annual general meeting (AGM) of Reliance Industries on Thursday.
"The Company has already invested more than 250 million dollars in the industry. We will now extend the service to 1100 cities to offer the most advanced fibre based broadband services. This will mean a faster internet experience. A virtual reality experience for all citizens where you can control switches in your house from outside as well. This will redefine 24*7 emergency help for all homes across India. We are calling this the JioGigaFibre," said chairman and managing director of RIL, Mukesh Ambani.
Currently available in select cities, JioFiber is a direct attempt by the Reliance group to expand its market disruptive service to the broadband sector.
The scheme offers direct fiber connectivity all the way to the house, unlike traditional fiber networks that offer connectivity to the house via traditional cables leading to slow speeds.
At present it offers connections with 1.1 tera byte free data at a speed of 100 mbps. This is provided for nothing but a refundable security deposit of Rs 4500 for GigaHub Home Gateway service.
The move is seen as an attempt by the industry giant to further expand its operations across various sectors, particularly telecom, reports suggest.
The company had made this intention pretty clear in 2016, when Ambani said that investment in the telecom startup Jio would be around Rs 2,50,000 crore.
Also various reports have indicated that the Reliance Group would probably invest around Rs 60,000 crore this year alone into the telecom unit likely to support the launch of the broadband plan.
And with Jio likely to enter the sector, it would be interesting how it will affect the broadband market in the country and how competitors will respond to it.
(Disclaimer: News18.com is part of Network18 Media & Investment Limited which is owned by Reliance Industries Limited)