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Reliance Jio in Talks with US Company Flex for Smartphone Production

15Dec By Gauri SinghNo Comments

BUSINESS

Reliance Jio in Talks with US Company Flex for Smartphone Production

One of the largest Indian conglomerate Reliance Jio Infocomm is in talks with US contract manufacturer Flex for locally producing about 100 million mobile phone handsets as the Mukesh Ambani-owned telco seeks to rapidly enhance its market share by signing on the majority of those users now using feature phones. “Jio is in advanced discussions for a large order and that has caused a stir in the market, even prompting Flex to negotiate some tax benefits with the government in the SEZ where its factory is located,” a person familiar with the matter said. Another person said that Flex currently has the capacity to manufacture around 4-5 million devices per month at its factory in the special economic zone (SEZ) near Chennai. Any move by t...

Reliance Jio Appoints Shyam Mardikar as Group CTO of Mobile Networks

24Sep By Gauri SinghNo Comments

News

Reliance Jio Appoints Shyam Mardikar as Group CTO of Mobile Networks

Reliance Jio Infocomm has appointed Shyam Prabhakar Mardikar on the position of group chief technology officer of mobility. He will be responsible for looking after the deployment of the company’s 4G networks in the country. This appointment has come after the exit of Jagbir Singh, who had joined the company before the soft launch of 4G services. He left the company in June this year. Prior to this, Mardikar served Bharti Airtel as its chief technology officer for mobile networks for two years. He was associated with the company since August 2012. Shyam Prabhakar Mardikar on his new appointment will report to Mathew Oommen, who is the president of Mukesh Ambani-owned Jio in Mumbai. Jio is aggressively expanding its 4G LTE network for coverage and capacity in India. It is deepen...

RCom Completes Sale of Fibre Assets worth Rs 30 billion to Reliance Jio

28Aug By Gauri SinghNo Comments

BUSINESS

RCom Completes Sale of Fibre Assets worth Rs 30 billion to Reliance Jio

Anil Ambani’s Reliance Communications (RCom) announced that the company has completed the anticipated sale of its fibre assets and related infrastructure assets. The assets were sold worth Rs 30 billion to Mukesh Ambani-backed Reliance Jio Infocomm (RJIO). "With successful completion of the fibre monetisation transaction, 1,78,000 kilometers fibre stand transferred to RJIO," Reliance Communications said. This particular decision marks the wrapping-up of yet another portion of a larger deal between RCom and Reliance Jio in December last year. The deal announced in December 2017, packed in 122.4 MHz of 4G spectrum in the 800/900/1800/2100 MHz bands, over 43,000 towers, 1,78,000 kilometres of fibre and 248 media convergence nodes. Along with this, it was last week that Reliance Commu...

30Jul By Gauri SinghNo Comments

Story

The Top 5 Corporate Fights in India

Corporate rivalries are a big part of an economy. They are quite prevalent all over the world in every possible sector. However, in India, it is mostly kept restricted to the boardrooms. In most of the developed economies, the rivals fight fiercely in open and create an amusing sight for the public. An example of this rivalry can be seen recently between Tata group vs Cyrus Mistry where both parties alleges each other openly, or Unilever’s Pepsodent claiming to be better than Colgate. These fights play a vital role in building up the excitement of the people. Here, we have some of the biggest and most harsh corporate rivalries in India: 1)MUKESH AMBANI and ANIL AMBANI The most interesting and the fiercest corporate fight that India has ever witnessed is probably the one...

Who is The Real Owner of NDTV? Pranab Roy or Mukesh Ambani!

18Jul By Gauri SinghNo Comments

Story

Who is The Real Owner of NDTV? Pranab Roy or Mukesh Ambani!

Disclaimer - The information in the article about the deal of NDTV and Reliance has been derived from various sources and we have tried our best to collect all the facts and come up with a clearer view of the case. The readers can go through the story and analyze the whole deal according to their point of view. For a long time, a question might have been troubling a lot of people in the business space: Who really owns NDTV, Roys or Ambani? NDTV founders Prannoy Roy, his wife Radhika Roy and their private holding company RRPR Holding raised a loan amounting to Rs 350 crore, without any interest, from Vishvapradhan Commercial (VCPL), a subsidiary of Mukesh Ambani's Reliance Industries Ltd (RIL) on 21st July 2009. It is said that in the form of a loan, this was basically an ...

Mukesh Ambani Becomes Asia’s Richest Man, Defeats Jack Ma

14Jul By Gauri SinghNo Comments

News

Mukesh Ambani Becomes Asia’s Richest Man, Defeats Jack Ma

Mukesh Ambani, the chairman of Reliance Industries has achieved the position of Asia’s richest man, bringing down Alibaba’s Jack Ma to the second position. According to the reports, Ambani's estimated total wealth amounted to around $44.3 billion after Reliance shares rose 1.6%. The business tycoon added $4 billion to his wealth in 2018. On the other hand, Jack Ma lost $1.4 billion in the same year. The market valuation of the company raised powerfully over Rs 7 lakh crore mark during the morning trade on Friday. Reliance Industries crossed the $100 billion market capitalization mark, and this was its debut in the last 10 years. “We need to broaden our horizon of expectation with Reliance,” said Nitin Tiwari, a Mumbai-based analyst at Antique Stock Broking. “They are in for somethin...

Reliance Jio Phone 2 Launches at Rs 2,999: Specifications and Plans

10Jul By Gauri SinghNo Comments

Tech

Reliance Jio Phone 2 Launches at Rs 2,999: Specifications and Plans

Mukesh Ambani, the chairman of Reliance Industries Ltd, at the Annual General Meeting in Mumbai, launched the Jio Phone 2 and announced that the device will be priced at Rs 2,999. Also, the chairman came up with a new offer under which the users can exchange their old feature phone for a new Jio Phone by just paying Rs 501. The QWERTY phone will be available for sale from August 15th at an introductory price of Rs 2,999. It will have extra features like Whatsapp, Facebook and Youtube. Talking about the Monsoon Hungama Scheme, Ambani said, "Under this offer, by exchanging your old feature phone, you can get a brand new Jio Phone for an effective entry price of just Rs 501.” “Starting 15th August, we have another exciting offer for common Indians. They can purchase our Jio Phone 2...

5Jul By NitishNo Comments

News

News of the Day: Reliance Becomes India’s Largest Tax-Paying Private Company

Mukesh Ambani, the Chairman of Reliance Industries said that Reliance has become first Indian private sector company paying 9,844 crore tax and 26,312 crore of customs and excise duty(6.4% of India's total collection). While addressing the crowd and media at the Reliance Industries' 41st Annual General Meeting Mukesh Ambani said, "the RIL posted a net profit of 36,075 crores, up by 20.6% compared to Rs 8,046 crore for the corresponding quarter of fiscal 2016-17." The company's consolidated revenue stood at Rs 1,29,120 crore, up 39 percent during Q4 FY 18, compared to the Rs 92,889 crore in the previous quarter. This is How Mukesh Ambani's Reliance Jio Will Make Money | Pixr8 Reliance has also paid 42,553 crore GST in one year. ...

Reliance Industries to Acquire Telecom Solutions firm Radisys Corporation

30Jun By Lavina TolaniNo Comments

ACQUISITION

Reliance Industries to Acquire Telecom Solutions firm Radisys Corporation

Reliance Industries is gearing to acquire Nasdaq listed telecom solutions provider Radisys Corporation for a whopping $75 million i.e approx (Rs. 510 crores), a move that would push it into an Internet of Things and 5G through Reliance Jio Infocomm. According to the sources, RIL will pay $1.72 per share in cash for the buyout which will bolster Mukesh Ambani owned company's positioning as a telecom company. In its official company statement, Reliance Jio director Akash Ambani said, "This acquisition further accelerates (Reliance) Jio’s global innovation and technology leadership in the areas of 5G, IOT and open source architecture adoption." Speaking on the development, Akash Ambani further said, "Radisys top-class management and engineering team offer Reliance rapid innovat...

This is How Reliance Jio Catches and Retains Customers

23Jun By Lavina TolaniNo Comments

Story

This is How Reliance Jio Catches and Retains Customers

Its just been 19 months since Mukesh Ambani led Reliance Jio ventured into the telecom market and bought a new kind of data revolution in the country. Reliance Jio is today India's third largest telecom operator which has widened its revenue market share by 20 percent and has a subscriber share of 15.8 percent. Providing first of its kind "cheap data offers", Jio has not only disrupted the market but has also changed the rules of the game. What is the reason that customers are still flocking to Jio? Broadly speaking, Jio has reinvented mobile phones as a source of mass entertainment. Nearly half of the Jio customers today, use mobile phones primarily to watch television. As per a recent report from Bank of America Merrill Lynch survey cited in Bloomberg, The telecom aggregation...

Bharti Airtel, Reliance Jio or Vodafone: Who will win the Telecom Battle over FIFA World Cup?

14Jun By Lavina TolaniNo Comments

BUSINESS

Bharti Airtel, Reliance Jio or Vodafone: Who will win the Telecom Battle over FIFA World Cup?

While the most awaited sporting event in the world, FIFA World Cup is going live today, it has sparked a new telecom battle for mobile operators Bharti Airtel, Reliance Jio Infocomm and Vodafone India trying to outdo each other to get a share of more than 100 million viewers. Airtel subscribers can view the live broadcast of the month-long tournament in various local languages besides English and Hindi on Airtel TV. Additionally, to beat the Reliance Jio game, Aitel is even providing a sneak peek into exclusive behind-the-scenes match snippets along with match previews/reviews. Meanwhile, Mukesh Ambani led Jio is providing coverage to football matches live on Jio TV at no additional subscription charges. The telecom is also broadcasting India-Afghanistan test match starting on Thursd...

Reliance Jio’s Growth May Trouble Its Competitors

8Jun By Gauri SinghNo Comments

News

Reliance Jio’s Growth May Trouble Its Competitors

Mukesh Ambani-owned Reliance Jio Infocomm has reported a considerable growth in profits in the March-ended financial year. Reliance Jio saw a net profit of Rs 510 crore in the quarter ended March compared with Rs 504 crore in the previous three months. Jio’s operating revenue increased 3.6 percent reaching to Rs 7,128 crore. The older telecom operators in India like Bharti Airtel and Vodafone India have been growing from the very beginning but since Jio has entered the league, they have been facing a tougher competition. “When the dust settles down and subscribers from beleaguered smaller players have been mopped by the Big Three (Vodafone-Idea combine, Airtel and Jio), the tussle for supremacy will resume,” said Sandip Das, senior advisor at telecom consulting firm Analysys Mason. “Wi...