Reliance Jio Infocomm currently has more than 130 million 5G users
Indian operator Reliance Jio Infocomm has reached nationwide coverage with its 5G offering, local press reported, citing Reliance Industries Limited (RIL) chairman Mukesh Ambani.
During RIL’s 47th annual general meeting, Ambani said the telecom operator currently has more than 130 million 5G users. Ambani noted that more than 85% of the 5G radio cells in the country are operated by Jio.
The completion of the 5G rollout also signals a shift in Jio’s focus, as Ambani hinted at a reduction in capital expenditure for the 5G network moving forward. This strategic shift is expected to enhance the telco’s financial efficiency, allowing it to focus on scaling its user base and exploring new revenue streams.
He also noted that JioAirFiber, the company’s 5G-based FWA service launched in October last year, acquired 1 million customers in the first six months and added another million in just the next 100 days. The company is targeting an addition of 1 million home broadband customers each month.
Ambani also revealed that the average Jio customer now uses over 30 GB of data per month, a 33% growth in data traffic over the past year. “Today, Jio’s network carries nearly 8% of global mobile data traffic,” he said.
As more users migrate to 5G, Jio’s 4G network’s capacity is opening up, uniquely positioning the telco to absorb over 200 million 2G users in India, Ambani added.
“Nearly all smartphones over INR 8,000 ($95) sold in India are 5G-ready. As 5G phones become more affordable, 5G adoption on Jio’s network will accelerate, further boosting data consumption. With Jio’s lead in 5G coverage, capacity and quality, we expect to capture the lion’s share of the accelerating 5G adoption,” Ambani said.
Reliance Jio Infocomm has been rapidly expanding its 5G network using Standalone (SA) architecture since October 2022.
Jio said it had acquired rights for additional spectrum in the 1.8 GHz band in Bihar and West Bengal in the recent auction spectrum auction carried out by the Indian government, increasing its spectrum footprint to 26,801 megahertz.
Reliance Jio Infocomm is exploring the possibility of a major initial public offering (IPO) in 2025, Indian newspaper Business Standard recently reported, citing a note by investment company Jefferies.
The brokerage firm also suggested that Jio might debut with a valuation around $112 billion, potentially contributing a 7-5% increase in the share price of its parent company, Reliance Industries.
