But shares of telecom majors Bharti Airtel and Vodafone Idea slid 4 per cent and nearly 5 per cent respectively as the announcements spurred worries of a repeat of what happened just three years ago when Reliance's Jio burst on to the scene.
The average selling price for Aramco's crude fell to $66 a barrel in the first half from $69 a year earlier, while crude production held steady at 10 million barrels of oil equivalent a day.
"The potential for growth is vast and half a billion customers, is now I believe well within our reach", he said.More news: Liam Hemsworth addresses Miley Cyrus split on Instagram
Along with GigaFiber, Jio launches GigaTV, which can allow users to live stream high resolution content using a dedicated set-top box.
Announcing that Jio Fiber services will be available for commercial use from September 5, Mukesh Ambani said the base plan will start from Rs 700 to 10,000 per month. "Jio has developed a service on its pan India 4G network called NB IoT". Ambani also announced the launch of a special unlimited monthly worldwide calling plan (to the USA and Canada only) that costs only INR 500. Now, the company plans to reach 20 million residences and 15 million business establishments. The Reliance CMD also confirmed that the company is testing the service with 5 lakh homes already - making it the largest beta testing program in the world for a home internet service.
The plans, will come bundled with subscriptions to most leading premium Over The Top (OTT) applications. Which ones? Well, we don't know yet.More news: Queen, despite Epstein scandal behind Prince Andrew - view
Speaking at the AGM, Mukesh Ambani said, "for the first time in the Indian market, Reliance has come up with a disruptive concept of watching new movies". A service which is expected to launch in the middle of 2020.
Jio, which has over 340 million subscribers, said its GigaFiber broadband services will include access to television channels, fixed-line telephone calling and video conferencing with prices starting at 700 rupees per month.
Paired with the Jio GigaFiber annual plans that offer a free LED TV, this could be quite a killer deal. "Now, we have transformed our long-standing relationship of two decades into a partnership [that has] growth potential, for many more years". The service is interoperable across devices including TVs and users can video conference via JioCall for free.More news: Perisic set to sign for Bayern Munich
Isha Ambani-Piramal, whose lavish December wedding (think Beyoncé, Hillary Clinton in Udaipur, and weeks of celebrations) created waves not just in the country, but also made headlines globally, stuck to tradition as she joined her family at the AGM.The heiress, who was spotted sans husband Anand Piramal, was twinning with grandmother Kokilaben in an ivory kurta and plazzo set with floral motifs. But up until now, the company didn't specify any details around how it is set to make Jio Fiber available against the likes of ACT Fibernet, Airtel, and Spectra among others. The connectivity and cloud infrastructure for budding startups will be free, Ambani said, from January 1, 2020.
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