After some incredible sales number in the previous quarters, Reliance Jio s sister arm saw a decline in its device distribution in the first quarter. Reliance Retail s device distribution business sold 1.5 million LYF devices and accessories during this quarter, Reliance Industries Ltd said in the Financial and Operational Performance report for Q1 (FY 2017-18). These numbers are down from the 2.6 million LYF and JioFi devices the company sold during the fourth quarter, and some 10 million units it retailed in the last financial year. Also Read - Jio maintains lead in 4G download speed, Vi in upload in May: TRAIAlso Read - Airtel Rs 456 vs Jio Rs 447 prepaid plan: Check validity, data, voice calls, and other benefits
On the other hand, Mukesh Ambani, the Chairman and Managing Director of Reliance Industries Limited commented on the results saying, …Retail business also witnessed accelerated growth momentum with YoY revenue growth of 74 percent. Jio has revolutionized the Indian telecom and data consumption landscape. This digital services business has been built to address the entire value chain across the digital services domain with smart applications to make life simple, beautiful and secure. Also Read - Jio Freedom Plans 2021: Jio launches 5 new prepaid plans with no daily data limit - check details
RIL also says that Reliance Retail recommissioned 17 petro retail outlets during the quarter and now operates 465 outlets. Reliance Retail added 18 stores during 1Q FY18 and operated 3,634 stores across 703 cities as on June 30, 2017. ALSO READ: Reliance Jio to raise Rs 20,000 crore via rights issue to meet funding needs
Further, commenting on its digital services, Reliance Industry believes that Reliance Jio Infocomm Limited has managed to build the next generation all-IP data network with the latest 4G LTE technology. And that It is the only network built as a Mobile Video Network and providing Voice over LTE technology (VoLTE). This future ready network can be easily enhanced to 5G and beyond.
Since commencement of services, Jio has become the fastest growing technology company in the world with more than 100 million in just 170 days, followed by the largest free to paid services migration, Reliance Industries said.
This report comes ahead of Reliance Industries Limited s AGM conference today. Among the performance numbers for Reliance Jio, the company is widely expected to talk about its 4G feature phones at the meeting. Recent reports speculated that Reliance Jio has roped in budget phone-maker Intex to co-develop its 4G VoLTE feature phones. Apparently, while Jio and Intex will jointly produce the phones, its pricing and marketing would be handled by Jio alone. However, if true, the details of the partnership will only be revealed at the annual shareholders’ meeting today. YOU MAY ALSO LIKE: Airtel hits back at revenue allegations by Reliance Jio, says India needs competition, not monopoly