Exactly two years in the past, India’s richest man, Mukesh Ambani, deliberate to revolutionize India’s Telecom sector with cheap data. His plan seems to be working.
After disrupting India’s Telecom market with cheap cell data and calling providers, RelianceJio has been steadily gaining market share. The firm provides 50 rupees ($0.70) per gigabyte and month-to-month plans as little as 149 rupees ($2).
Reliance Jio, a part of Ambani’s Reliance Industries, added 1.79 million subscribers in July, 10 instances greater than all rivals mixed, in accordance to the newest data launched by the Telecom Regulatory Authority of India on Wednesday. Competitors Bharti Airtel and Vodafone Idea cellular added 0.Three million subscribers and 0.6 million subscribers, respectively.
According to a report by Jefferies, Reliance Jio has greater than doubled its market share over the previous 16 months. As of July, it managed 19.6% of India’s 1.17 billion phone subscribers, up from 9.3% in March 2017.
“If the recent trend continues, by the end of March 2019 it would have a subscriber base of 300 million from the current 225 million,” Jefferies analyst Somshankar Sinha mentioned.