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Reliance Jio will become India's top telecom company by 2021: Bernstein report
A new report has come up from Sanford C. Bernstein & Co that Jio will become No.1 telecom company in India by 2021. All you need to know.
Reliance Jio the Indian mobile operator which has become one of the top mobile carriers in the country in a very short span of time. In a statement Sanford C. Bernstein & Co. analysts Chris Lane and Samuel Chen said that the company could be No. 1 in the market in revenue terms by 2021 as it adds more subscribers.
Bharti Airtel and Vodafone Idea is lacking the battle against Reliance Jio and keep on trying to introduce new plans and offering free voice services and inexpensive phones.
According to Bloomberg's report, "Jio launched a free-for-life call service last year that triggered a price war and consolidation in one of the world's most crowded mobile markets. The company launched its introductory nationwide 4G wireless service back in 2016. Two years later the company has achieved 227 million customer base and become profitable because of its connectivity to remote areas.
According to reports, "Bernstein wrote that it expects Reliance Jio to keep selling its subsidized Jio Phone, the 4G feature phones it sells for a refundable deposit of $23 (about ₹1,500) until it reaches the No.1 position."
According to the analysts, average revenue per unit would probably rise for Bharti Airtel and Vodafone Idea this year as they cancel user contracts that generate little revenue.
Bernstein lowered its price targets for Bharti Airtel to 450 rupees a share and Vodafone Idea to 40 rupees a share. Bharti Airtel fell 2.1 per cent to 297.45 rupees as of 10:59 a.m. in Mumbai, while Vodafone Idea dropped 1.9 per cent to 33.15 rupees. The S&P BSE Sensex declined 1.7 per cent.
Reliance Jio is moving ahead in a massive speed towards success. It disrupted the sector right after the launch. Now, the company is soon entering the broadband service sector too let us see Jio is going to do and how the other rival brands will compete against Reliance Jio GigaFiber.