Jio Platforms
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The Indian market for fixed broadband is rising fast, with Reliance Jio set to be lead supplier in terms of number of subscriptions.
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India’s financial regulator has fined Reliance Industries, the owner of Jio, for failing to announce Facebook’s US$5.7 billion investment. Two compliance officers were also fined.
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Jio Platforms Limited (JPL) and SES have formed a joint venture – Jio Space Technology Limited – to deliver broadband services in India leveraging satellite technology.
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Ericsson, IBM and Jio have all released their latest financial results in recent days, kicking off the latest reporting season.
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The chairman of the company that owns 27% of Indian mobile operator Vodafone Idea has offered to transfer the group’s entire shareholding to the government to help stave off collapse.
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The company that owns Indian operator Reliance Jio will continue to pay the salary of staff who have died of Covid-19 for five years.
Forthcoming events
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Jio Platforms saw its average revenue per user (ARPU) increase for the fifth consecutive quarter according to its latest financial results, and further confirmed a 5.3% increase in revenue.
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India has taken the biggest step so far in a plan to merge its two state-owned telcos, by transferring mobile operations in Delhi and Mumbai from one to the other.
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Reliance Industries Limited has called on the Indian government to intervene and end what it has described as "illegal acts of vandalism by miscreants" in Punjab and Haryana.
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India could get its first 5G services in the second half of 2021 after Reliance boss Mukesh Ambani said Jio would "pioneer the 5G revolution".
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Reliance Industries has generated eight investments in its retail subsidiary Reliance Retail Ventures Limited (RRVL), however a legal notice from Amazon could be about to put the brakes on the momentum.
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Japan’s Rakuten Mobile is rolling out cloud-based 5G services in main cities, available to all users with a suitable device for no extra cost.
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KKR has made a second investment in a Reliance Industries’ company, this time backing the firm’s retail subsidiary in return for a 1.28% equity stake.
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India’s Vodafone Idea, which yesterday rebranded as Vi, will lose market share to its two big rivals, Reliance Jio and Bharti Airtel, says ratings agency Fitch.
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Japanese retailer Rakuten is set to launch its 5G network next month, the first in the world to be using open standards for its radio network.
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India’s Supreme Court has said it will not step back from its demand that two major telcos must pay their back taxes of US$13 billion.
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Reliance Jio is adding customers in India at the rate of 4.6 million a month, while both of the other major operators are losing 7.5 million a month between them.
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Alphabet’s Google has taken a 7.73% stake in Jio Platforms, paving the way for the two to collaborate on entry level, affordable smartphones.