Reliance Jio Infocomm Chairman Akash Ambani on Saturday announced the launch of 5G services in Rajasthan from the famous Shrinathji temple in Nathdwara town of Rajsamand.
“5G services are for everyone. From today, with Nathdwara, Chennai is also going to have 5G services,” Akash Ambani said.
This is widely being seen as 30-year-old Akash Ambani’s first major announcement as Jio head after the RIL board appointed him Chairman, as per a regulatory filing on June 28. His elevation was announced along with news of Mukesh Ambani stepping down as the director of Jio.
Reliance Industries Chairman Mukesh Ambani had visited the temple last month and promised to launch the services in the state from the temple. In 2015 too, Mukesh Ambani had paid a visit to Shrinathji temple before the launch of 4G services.
On October 1, after Prime Minister Narendra Modi launched the 5G telephony services that promise to provide ultra-high-speed internet on mobile phones, Mukesh Ambani had said Reliance Jio, the nation’s biggest telecom firm, will expand 5G services to every part of the country by December 2023.
श्रीनाथजी मंदिर से 5G सेवा के शुभारंभ के अवसर पर @reliancejio के चेयरमैन आकाश अंबानी LIVE #5G #5GServiceLaunch #RIL #5Glaunch #RelianceJio
https://t.co/WuUGNuQrD4— News18 India (@News18India) October 22, 2022
5G data speeds in India are expected to be about 10 times faster than those of 4G, with the network seen as vital for emerging technologies like self-driving cars and artificial intelligence, and sectors like healthcare, education, agriculture and disaster monitoring.
The 5G services will progressively cover the entire country over the next couple of years — Jio promises to do that by December 2023 and Bharti Airtel by March 2024.
Reliance Jio Infocomm, a subsidiary of RIL’s digital unit Jio Platforms, reported year-on-year (YoY) growth of 28% in its standalone net profit at Rs 4,518 crore for the September quarter. On a sequential basis, the profit grew by 4 percent, moneycontrol.com reported.
The company recorded revenue of Rs 22,521 crore for the quarter under review, up 20% from a year ago. Sequentially, revenue increased by 3%. Performance was driven by higher net customer additions and an increase in average revenue per user, the report added.
Nokia will supply Reliance Jio, which has more than 42 crore customers, with 5G radio access network (RAN) equipment in a multi-year deal, the company said in a statement.
Reliance snapped up airwaves worth Rs 90,000 crore ($11 billion) in a Rs 1.56 lakh crore ($19 billion) 5G spectrum auction in August and had launched 5G services in select cities. It is also working with Google to launch a budget 5G smartphone.
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