The annual report of Mukesh Ambani led Reliance Industries Limited released on Thursday said that its telecom company Reliance Jio is placed at the 17th spot in the world's most innovative companies list compiled by American business magazine Fast Company's 50 Most Innovative Companies list in 2018. While in India it tops the chart as the leading innovative company.
The annual report said, "Reliance Jio is the largest mobile network in the world in terms of mobile data traffic with total mobile data consumption of over 5 Exabyte in the financial quarter ending March 2018". The company in a span of less than two years has a huge customer base of 186.6 million.
A report by Jefferies said that competitive tariff plans introduced by Reliance Jio Infocomm including the latest Rs. 199 post plan offering 25GB data and unlimited voice and message service will make rival players to respond and as a result average revenue per user or ARPU will further decrease for other players including Idea and Airtel.
"This is at 50 per cent discount to comparable packs by incumbents and 60 per cent discount to postpaid ARPUs. We have been concerned on Postpaid as it contributes 20 per cent plus of revenues. With the sharp discount launch by Jio we expect incumbents to also respond and thus expect further decline in ARPU for Bharti and Idea. This is likely Jio's first offer aimed at enterprise market. Remain cautious on the sector," the Jefferies report added.
In its annual report, RIL said, "India's digital services market is continuing its exponential growth trajectory with Jio expanding its coverage and further deepening in existing areas to achieve 99 per cent population coverage during FY 2018-19".
Further as per a report by Institute for Competitiveness or IFC, in a short span of just six months after the entry of Jio, India's consumption of mobile data has increased from 200 million GB per month to over 1 billion GB.