Saudi Aramco drops $15bn buying into India, despite profits slide

Saudi Aramco drops $15bn buying into India, despite profits slide

The purchase by Aramco, the largest oil exporter and the most profitable company in the world, precedes a planned public offering that could be held as early as next year. "In India even the most basic Jio Fiber plan starts with 100 Mbps speed and we have plans all the way up to 1 Gbps or 1000 Mbps", he said adding that this would improve the quality of fixed-line data in India.

"Jio Fiber Services to be launched on commercial basis on 5 September 2019 - on the third anniversary of Jio's launch".

If you're still looking for more reasons to be excited about Jio Giber, Reliance also announced the Jio Fiber Welcome Offer, wherein subscribers opting for the annual "Jio Forever" plans will get an HD/4K TV and a 4K set-top box for free. Announcing the move, Mukesh Ambani said the "Jio First Day First Show" service wil be launched by the middle of the financial year 2020.Jio's Forever Plans, that promises subscribers an HD or 4K LED television for free, along with a 4K set-top box, was also announced. With Jio's "First Day First Show" feature, Jio Premium members can watch movies on their Jio Fiber connections on the same day that those films hit the theaters.

Home Service: The first feature is if one wants to port their existing service to Jio's postpaid service it can be done from home.

The company claimed to be growing at a rate of almost 10 stores per day in the last two years.

Over the next twelve months, Jio plans to install one of the largest blockchain networks in the world that will include throughs on nodes that be operation when the services takes off. Spanning over 1,600 towns, the service generated over 15 million registrations and trials are already underway in 500,000 homes. There was speculation about Aramco buying a 20 per cent stake in the business for about $15 billion, but Khalid Al-Dabbagh, Aramco's chief financial officer, declined to confirm those figures and said the talks with Reliance were at "an early stage". Reliance is also bundling free landline service with Jio Fiber.

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Jio Postpaid Plus will offer priority SIM-setup service at home. They also haven't revealed the data threshold that will come with each plan. Jio will also give a 4K TV for no additional cost to users along with a 4K set-top box.

Revenue from each of these engines will flow in from this fiscal itself.

Microsoft and Jio will launch cloud data centres in India, the two executives said.

"The potential for growth is vast and half a billion customers, is now I believe well within our reach", he said.

He also pointed out that the investment cycle for Jio is now complete and going forward, the company only needs marginal investments in terms of access in order to grow its capacity in order to meet demand. But up until now, the company didn't specify any details around how it is set to make Jio Fiber available against the likes of ACT Fibernet, Airtel, and Spectra among others.

Jio's connectivity infrastructure will promote the adoption of the Microsoft Azure cloud platform within its growing ecosystem of startups, as part of Jio's cloud-first strategy.

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