Reliance Jio Eyeing 500 Million Subscribers In Next Three Years

Reliance Jio has more than 388 customers, and now it is planning to increase its subscriber base in the country. The company is looking at achieving 500 million customers mark soon. The proposed target is expected to increase its revenue, and it will give a Jio an upper hand over other telecom operators.

"In the next three years, Jio will connect half a billion mobile customers, a billion smart sensors and 50 million home, and business establishments," said Mukesh Ambani, chairman and managing director of Reliance Industries.

The development comes after Reliance Jio has become the number one operator in the country. On the other hand, Airtel has 284 million customers, while Vodafone-Idea subscriber stands at 291 million customers. In fact, the company has added 46 lakh customers in March this year, while Airtel and Vodafone-Idea have lost 75 lakh users during the same month.

This means Reliance Jio has beaten both private players. Furthermore, Reliance Jio has managed to garner 33.47 percent market share, while Airtel has 23.31 percent share and Vodafone-Idea has only 27.57 percent in the country.

Reliance Jio Sells 7.73 Stake To Google Along with Other Announcements Regarding 5G, JioMart, Jio Glass, And JioTV+

Meanwhile, Reliance Jio has announced that Google is buying its 7.73 percent stake. The search engine giant is planning to invest Rs. 33,737 crore in the Jio platforms. "This investment by Google values Jio Platforms at an equity value of Rs. 4.36 lakh crore. Google's investment will translate into a 7.73 percent equity stake in Jio Platforms on a fully diluted basis," Reliance Industries said in a statement.

Similarly, the company is planning to bring its 5G solutions in 2021, and it is likely to start the trial soon, without any telecom gear makers. Besides, the company is planning to expand its services of JioMart. Furthermore, the company has launched JioGlass, and lastly, it has launched JioTV+.