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Reliance Industries to Set Up Wholly-Owned Subsidiary for its Digital Platform Initiatives

The company said in a statement that the move will ensure that monetisation opportunities accrue to the shareholders efficiently

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Reliance, Industries, Subsidiary
RIL's digital platforms include the categories MyJio, JioTV, JioCinema, JioNews and JioSaavn. Flickr

Reliance Industries on Friday said that it will set up a wholly-owned subsidiary for its digital platform initiatives with an investment of Rs 1.08 lakh crore.

Accordingly, the company’s move will lead to the creation of the largest digital services platform company in India.

RIL’s digital platforms include the categories MyJio, JioTV, JioCinema, JioNews and JioSaavn.

The company said in a statement that the move will ensure that monetisation opportunities accrue to the shareholders efficiently.

Reliance, Industries, Subsidiary
Accordingly, the company’s move will lead to the creation of the largest digital services platform company in India. Wikimedia Commons

“There is no impact in the value pre and post reorganisation for any shareholder; There is no impact on the consolidated debt of RIL,” the RIL statement said.

The company further said that the move will not impact RIL’s standalone credit profile given its robust cash flows and conservative leverage.

RIL’s Chairman and Managing Director Mukesh Ambani said: “This new company will be a truly transformational and disruptive digital services platform. It will bring together India’s No.1 connectivity platform, leading digital app ecosystem and world’s best tech capabilities globally, to create a truly Digital Society for each Indian. Jio has been heralding the digital services revolution in India and will continue to do so in the years to come.

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“Given the reach and scale of our digital ecosystem, we have received strong interest from potential strategic partners. We will induct the right partners in our platform company, creating and unlocking meaningful value for RIL shareholders.” (IANS)

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Reliance Jio Introduces Voice and Video Calling Over Wi-Fi Service

Jio launches voice & video Wifi calling

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Jio video call
Reliance Jio announced the availability of nation-wide Voice and Video over Wi-Fi service. Pixabay

Taking on Airtel, Reliance Jio on Wednesday announced the availability of nation-wide Voice and Video over Wi-Fi service which will work on any Wi-Fi, anywhere in India and supports over 150 handset models.

The service makes crystal-clear voice and video calls through Wi-Fi at no additional cost.

“To further reinforce its customer-obsession and offer the best products and experience to its consumers, Jio today announced the launch of nation-wide Voice and Video over Wi-Fi service. Jio has been testing this service over the past few months, to provide a robust experience to every customer at launch,” the company said.

Wi-Fi video call
The service makes crystal-clear voice and video calls through Wi-Fi at no additional cost. Pixabay

The key differentiators that come with Jio Wi-Fi Calling are, Jio said, are that customers can use any Wi-Fi network for Jio Wi-Fi-calling and the voice and video calls will seamlessly switch-over between VoLTE and Wi-Fi to provide an enhanced voice/video-calling experience.

“Jio Wi-Fi calling works on the largest ecosystem of handsets. Jio customers can also make Video over Wi-Fi calls And all of this comes at no additional cost!” it said.

On the launch of this service, Jio Director Akash Ambani said: “At Jio, we are constantly innovating to enhance customer experience or solve their problems. At this juncture, when an average Jio consumer uses over 900 minutes of voice calls every month, and at a growing base of consumers, the launch of Jio Wi-Fi Calling will further enhance every Jio consumer’s voice-calling experience, which is already a benchmark for the industry with India’s-first all VoLTE network.”

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To enable Jio Wi-Fi Calling, a step-by-step guide has been made available on Jio.com/wificalling and Jio Wi-Fi Calling will be enabled pan-India between January 7 and 16, 2020, it said. (IANS)