Best printers for Home

Best Mixer Grinder

Best wired Earphones

Best 43 Inch TV in India

Best Wi Fi Routers

Best Home Theatre in India

Smart Watch under 5000

Best Laptops for Education

Best Laptop for Students

India's largest telecom operator <keyword id="19896911" type="General" weightage="20" keywordseo="Reliance-Jio" source="keywords" meta.keywordsubtype="org" meta.entityname="Reliance Jio" meta.hostid="261" meta.entityid="Reliance Jio">Reliance Jio</keyword> on Monday posted a 13 per cent year-on-year rise in its standalone net profit at Rs 5,337 crore in March quarter. Its revenue from operations for Q4FY24 came in at Rs 25,959 crore, up 11 per cent over the year-ago period. The net profit was pegged at Rs 5,337 crore for just-ended quarter, up from Rs 4,716 crore in the fourth quarter of FY23, which translated into a 13.16 per cent increase. According to a BSE filing by the company, for the full FY24, the net profit stood at Rs 20,466 crore, which was 12.4 per cent higher than that of FY23. The revenue for full fiscal ended March 2024 was Rs 1,00,119 crore, up 10.2 per cent over the preceding fiscal. SEE ALSO:<a href="https://www.businessinsider.in/tech/mobile/news/google-pixel-8a-may-be-more-expensive-than-its-predecessor-as-per-a-new-leak/articleshow/109499394.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/google-pixel-8a-may-be-more-expensive-than-its-predecessor-as-per-a-new-leak/articleshow/109499394.cms" target="_blank">Google Pixel 8a may be more expensive than its predecessor, as per a new leak</a><a href="https://www.businessinsider.in/sports/webstories/at-17-indian-chess-prodigy-d-gukesh-becomes-youngest-challenger-for-world-championship/slidelist/109492021.cms" target="_blank"></a> <a href="https://www.businessinsider.in/sports/webstories/at-17-indian-chess-prodigy-d-gukesh-becomes-youngest-challenger-for-world-championship/slidelist/109492021.cms" target="_blank">At 17, Indian chess prodigy D Gukesh becomes youngest challenger for World Championship</a><a href="https://www.businessinsider.in/tech/news/playstation-5-is-now-available-at-a-discount-of-10000-for-a-limited-period/articleshow/109183034.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/news/playstation-5-is-now-available-at-a-discount-of-10000-for-a-limited-period/articleshow/109183034.cms" target="_blank">PlayStation 5 is now available at a discount of ₹10,000 for a limited period</a>

Reliance Jio Q4 net profit rises over 13% to ₹5,337 crore

New Delhi, Jio on Monday launched internet-enabled Jio Bharat phones at Rs 999, packing-in cheaper monthly plan of Rs 123 for unlimited voice calls and 14 GB data. The new offering aims to accelerate the '2G Mukt Bharat' vision, as India still has 250 million mobile subscribers trapped in the 2G era with feature phones. While India is leading the 5G revolution on one side with the transformational Jio True 5G network, there is a section of society that is unable to reap the benefits of digital technology in entirety. "Jio Bharat is being launched with the objective of empowering every Indian with the power of digital services, especially those who cannot afford a smartphone. This will truly mark the beginning of digital freedom for the 250 million feature phone users in India and will bridge the digital divide," Jio said in a statement. Beta trial for first 1 million Jio Bharat phones starts from July 7, 2023. Besides Reliance Retail, other phone brands (starting with Karbonn) will adopt the 'Jio Bharat platform' to build 'Jio Bharat phones'. Jio Bharat is priced at Rs 999, "the lowest entry price for an internet-enabled phone", it said. It is offering 30 per cent cheaper monthly plan and 7 times more data compared to feature phone offerings of other operators. "Rs 123 per month for unlimited voice calls and 14 GB data, compared to other operators' Rs 179 plan for voice calls and 2GB data," the statement added. Lately, the digital disempowerment and disparity for feature phone users has become worse, with other telecom operators increasing the minimum price to stay connected, the statement said, adding even basic voice services for a 30-day period, which used to cost Rs 99 previously, now costs Rs 199. Akash Ambani, Chairman, Reliance Jio, said there are still 250 million mobile phone users in India who remain "trapped" in the 2G era, unable to tap into basic features of the internet at a time when the world stands at the cusp of a 5G revolution. "Six years ago, when Jio was launched, we made it clear that Jio will leave no stone unturned to democratise internet and pass the benefits of technology to every Indian," he said. Technology will no longer remain a privilege for a select few, he said, highlighting that the new Jio Bharat phone is another step to ensure every single person reaps the benefits of digital society. "It is at the centre of innovation, and it continues to demonstrate our focus on bringing disproportionate and true value for different segments of users with meaningful, real-life use cases," he said.

Jio launches internet-enabled Jio Bharat phone at Rs 999

<ul><li><keyword id="19896911" type="General" weightage="20" keywordseo="Reliance-Jio" source="keywords" meta.keywordsubtype="org" meta.entityname="Reliance Jio" meta.hostid="261" meta.entityid="Reliance Jio">Reliance Jio</keyword> has become the world's largest mobile operator in terms of data traffic.</li><li>The total traffic on the <keyword id="2003276" type="General" weightage="20" keywordseo="jio" source="Orion">Jio</keyword> network has reached 40.9 Exabytes, marking a 35.2 per cent year-on-year increase.</li><li>This surge is attributed to the growing adoption of <keyword id="19916120" type="General" weightage="20" keywordseo="5G" source="keywords">5G</keyword> and Home services.</li></ul>Reliance Jio, the telecom giant of India, has become the world's largest mobile operator in terms of data traffic, surpassing <keyword id="20669190" type="General" weightage="20" keywordseo="China-Mobile" source="keywords" meta.keywordsubtype="org" meta.entityname="China Mobile" meta.hostid="261" meta.entityid="China Mobile">China Mobile</keyword>. The announcement came on Monday as Jio revealed its quarterly results, showcasing staggering numbers and milestones achieved in various segments. As of March 2024, Jio boasts a subscriber base of 481.8 million, out of which 108 million subscribers are on Jio's True5G Standalone network. The number reflects Jio's stronghold in the Indian telecom market. According to a press release, the total traffic on the Jio network has reached 40.9 Exabytes, marking a 35.2 per cent year-on-year increase. This surge is attributed to the growing adoption of 5G and Home services. Notably, 28 per cent of the traffic comes from 5G subscribers, indicating a swift transition towards next-generation connectivity. Additionally, Jio's Fixed Wireless Access (FWA) services have contributed significantly to the data traffic. Since the onset of the COVID-19 pandemic, there has been a dramatic 2.4x increase in annual data traffic, with per capita monthly data usage skyrocketing to 28.7 GB from just 13.3 GB three years ago. This surge underscores the growing reliance on digital connectivity in India. Commenting on the results, <keyword id="3820" type="General" weightage="20" keywordseo="Mukesh-Ambani" source="Orion">Mukesh Ambani</keyword>, Chairman and Managing Director of Reliance Industries Limited, expressed his satisfaction with the company's performance and its contribution to the Indian economy. He highlighted the significant achievements, including becoming the first Indian company to cross the Rs 100,000-crore threshold in pre-tax profits. Ambani said, "Initiatives across RIL's businesses have made a remarkable contribution towards fostering growth of various sectors of the Indian economy. It is heartening to note that alongside strengthening the national economy, all segments have posted a robust financial and operating performance. This has helped the Company achieve multiple milestones. I am happy to share that this year, Reliance became the first Indian company to cross the Rs 100,000-crore threshold in pre-tax profits." Ambani also emphasized Jio's role in driving the digital transformation in India, from upgrading 2G users to smartphones to leading the effort in producing AI-driven solutions. He noted, "With over 108 million True 5G customers, Jio truly leads the 5G transformation in India. From upgrading the hitherto 2G users to smartphones, to leading the effort of producing AI-driven solutions, Jio has proved its capability in strengthening the nation's digital infrastructure." He reiterated Jio's commitment to strengthening the nation's digital infrastructure and its continued efforts to provide innovative solutions to consumers. The company's retail arm, Reliance Retail, also showed robust growth, with a 36 per cent increase in footfalls and strong digital commerce platforms offering a broad brand catalogue. "Reliance Retail continued to provide customers endless choices through its robust omni-channel presence. We continue to offer product differentiation and superior offline experience through stores remodelling and revamping of layouts. Our digital commerce platforms also provide newer solutions to users with a broad brand catalogue. Reliance Retail also works towards strengthening millions of merchants through its unique initiatives in new commerce space", said Ambani. In addition to its telecom and retail segments, Reliance Industries Limited has shown resilience in its Oil to Chemicals (O2C) segment, despite challenging market conditions. The KG-D6 block has achieved significant production milestones, accounting for 30 per cent of India's domestic gas production. Ambani emphasised, "Strong demand for fuels globally, and limited flexibility in refining system worldwide, supported margins and profitability of the O2C segment. Downstream chemical industry experienced increasingly challenging market conditions through the year." He added, "Despite headwinds, maintaining leading product positions and feedstock flexibility through our operating model that prioritises cost management, we delivered a resilient performance. The KG-D6 block has achieved 30 MMSCMD of production and now accounts for 30 per cent of India's domestic gas production." In terms of financial performance, Reliance Jio has achieved several remarkable milestones. The consolidated EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) at Rs 178,677 crore, while the consolidated Profit Before Tax (PBT) has surpassed Rs 100,000 crore. The company's market capitalization has crossed Rs 20,00,000 crore, further solidifying its position as one of India's most valuable companies. SEE ALSO:<a href="https://www.businessinsider.in/tech/mobile/news/google-pixel-8a-may-be-more-expensive-than-its-predecessor-as-per-a-new-leak/articleshow/109499394.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/google-pixel-8a-may-be-more-expensive-than-its-predecessor-as-per-a-new-leak/articleshow/109499394.cms" target="_blank">Google Pixel 8a may be more expensive than its predecessor, as per a new leak</a><a href="https://www.businessinsider.in/stock-market/news/vodafone-idea-fpo-allotment-how-to-check-allotment-gmp-and-more/articleshow/109504341.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/news/vodafone-idea-fpo-allotment-how-to-check-allotment-gmp-and-more/articleshow/109504341.cms" target="_blank">Vodafone Idea FPO allotment – How to check allotment, GMP and more</a><a href="https://www.businessinsider.in/business/telecom/news/telecom-companies-may-hike-tariffs-by-up-to-17-after-the-general-elections-as-per-analysts/articleshow/109240274.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/telecom/news/telecom-companies-may-hike-tariffs-by-up-to-17-after-the-general-elections-as-per-analysts/articleshow/109240274.cms" target="_blank">Telecom companies may hike tariffs by up to 17% after the general elections, predict analysts</a>

Reliance Jio emerges as World's largest mobile operator in data traffic, surpassing China mobile

<keyword id="19938772" type="General" weightage="20" keywordseo="Reliance-Industries-Ltd" source="keywords" meta.keywordsubtype="org" meta.entityname="Reliance Industries Ltd" meta.hostid="261" meta.entityid="Reliance Industries Ltd">Reliance Industries Ltd</keyword> on Monday reported an almost flat March quarter net profit, while its annual earnings hit a record high on the back of a recovery in its core oil and petrochemicals business and sustained momentum across the consumer-facing telecom and retail businesses. The oil-to-telecom-and-retail conglomerate's consolidated net profit stood at Rs 18,951 crore, or Rs 28.01 per share, in January-March quarter of the 2023-24 fiscal compared to Rs 19,299 crore, or Rs 28.52 a share, a year ago, according to a company's stock exchange filing. The profit was, however, higher quarter-on-quarter when compared to Rs 17,265 crore in October-December period. For the full fiscal FY24 (April 2023 to March 2024), Reliance posted a record net profit of Rs 69,621 crore as compared to Rs 66,702 crore earnings in the preceding financial year. Reliance also became the first Indian company to hit Rs 10 lakh crore turnover in FY24 when revenue from operations rose 2.6 per cent from Rs 9.74 lakh crore in 2022-23. The oil-to-chemicals (O2C) business, the main milch cow, posted a rise in profitability annually as well as sequentially, while retail business' earnings rose on new store openings despite lower footfalls. The firm helmed by billionaire <keyword id="19916798" type="General" weightage="20" keywordseo="Mukesh-Ambani" source="keywords">Mukesh Ambani</keyword> saw telecom revenues soar as it outpaced competition in subscriber addition and data traffic. While quarterly EBITDA (earnings before interest, taxes, depreciation, and amortization) was up 14.3 per cent year-on-year to Rs 47,150 crore, registering growth across all businesses, the revenue from operations rose almost 11 per cent to Rs 2.64 lakh crore. The mainstay oil refining and petrochemicals business, called O2C, posted a 11 per cent rise in revenue and a 3 per cent higher EBITDA at Rs 16,777 crore in Q4. This was primarily because of "advantageous" sourcing of feedstock (crude oil) for refining business and use of ethane for making chemicals as well as higher domestic product placement, a company statement said, adding exports were down 8.5 per cent. With the consumer base swelling to 481.8 million from 470.9 million at the end of December on a flat per-user revenues of Rs 181.7, Reliance <keyword id="21397660" type="General" weightage="20" keywordseo="Jio-Infocomm-Ltd" source="keywords" meta.keywordsubtype="org" meta.entityname="Jio Infocomm Ltd" meta.hostid="261" meta.entityid="Jio Infocomm Ltd">Jio Infocomm Ltd</keyword> - the digital services business - posted a 12 per cent rise in net profit at Rs 5,583 crore in the fourth quarter of FY24. Also, aiding the business was rise in data traffic to 40.9 billion GB in January-March from 38.1 billion GB in the preceding quarter. For the full year, Jio posted a profit of Rs 21,424 crore as compared to Rs 19,124 crore in FY23. Profits from the retail business climbed 11.7 per cent to Rs 2,698 crore as store count rose to 18,836 from 18,774. Store footfalls dropped to 272 million from 282 million in October-December 2023 but were higher than 219 million recorded in January-March 2023. Oil and gas EBITDA soared 47.5 per cent to Rs 5,606 crore as higher gas volumes partly offset lower price realisation. The firm's flagship KG-D6 block in Krishna Godavari basin in the Bay of Bengal is now producing about 30 million standard cubic metres per day of gas and 23,000 barrels a day of oil/condensate. The company said its outstanding debt rose to Rs 3.24 lakh crore from Rs 3.11 lakh crore in December-end. After accounting for cash in hand, net debt at Rs 1.16 lakh crore as on March 31 was lower than Rs 1.25 lakh crore a year back. Mukesh Ambani, Chairman and Managing Director of <keyword id="20076630" type="General" weightage="20" keywordseo="reliance-industries-limited" source="keywords">Reliance Industries Limited</keyword>, said all segments of business have posted a robust financial and operating performance. "This has helped the Company achieve multiple milestones. I am happy to share that this year, Reliance became the first Indian company to cross the Rs 1 lakh-crore threshold in pre-tax profits," he said. Performance of the digital services segment has been boosted by accelerated expansion of subscriber base, supported by both mobility and fixed wireless services, he said. "With over 108 million True 5G customers, Jio truly leads the 5G transformation in India." <keyword id="19901342" type="General" weightage="20" keywordseo="reliance-retail" source="keywords">Reliance Retail</keyword>, he said, continued to provide customers endless choices through its robust omni-channel presence. "We continue to offer product differentiation and superior offline experience through stores re-modelling and revamping of layouts. Our digital commerce platforms also provide newer solutions to users with a broad brand catalogue," Ambani said. Strong demand for fuels globally, and limited flexibility in refining system worldwide supported margins and profitability of the O2C segment. "Downstream chemical industry experienced increasingly challenging market conditions through the year. Despite headwinds, maintaining leading product positions and feedstock flexibility through our operating model that prioritises cost management, we delivered a resilient performance," he said. "We remain committed to our projects and initiatives, including those in the new energy segment, which will bolster the company, and help it deliver sustainable growth for the future," he added. SEE ALSO:<a href="https://www.businessinsider.in/stock-market/news/vodafone-idea-fpo-allotment-how-to-check-allotment-gmp-and-more/articleshow/109504341.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/news/vodafone-idea-fpo-allotment-how-to-check-allotment-gmp-and-more/articleshow/109504341.cms" target="_blank">Vodafone Idea FPO allotment – How to check allotment, GMP and more</a><a href="https://www.businessinsider.in/tech/mobile/news/google-pixel-8a-may-be-more-expensive-than-its-predecessor-as-per-a-new-leak/articleshow/109499394.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/google-pixel-8a-may-be-more-expensive-than-its-predecessor-as-per-a-new-leak/articleshow/109499394.cms" target="_blank">Google Pixel 8a may be more expensive than its predecessor, as per a new leak</a><a href="https://www.businessinsider.in/sports/webstories/at-17-indian-chess-prodigy-d-gukesh-becomes-youngest-challenger-for-world-championship/slidelist/109492021.cms" target="_blank"></a> <a href="https://www.businessinsider.in/sports/webstories/at-17-indian-chess-prodigy-d-gukesh-becomes-youngest-challenger-for-world-championship/slidelist/109492021.cms" target="_blank">At 17, Indian chess prodigy D Gukesh becomes youngest challenger for World Championship</a>

Reliance Industries quarterly profit stays flat; annual earnings hit record at ₹69,621 crore

Tesla and SpaceX CEO Elon <keyword id="19905256" type="General" weightage="20" keywordseo="musk" source="keywords">Musk</keyword> on Friday threatened Satya Nadella-run Google, saying his X (formerly Twitter) platform will soon have an alternative to the <keyword id="19945577" type="General" weightage="20" keywordseo="gmail" source="keywords">Gmail</keyword> service. When asked on X if he is planning an email service, the billionaire said the service is coming soon. <keyword id="20700389" type="General" weightage="20" keywordseo="nate-mcgrady" source="keywords">Nate McGrady</keyword>, a member of X's Engineering and Security team, had asked when XMail would be launched. "Coming," replied Musk, setting the tech industry on fire as Google faced rumoured plans to sunset Gmail via a manipulated image that began circulating on social media platforms. A follower replied: "Lost trust in Gmail. Time to make the switch to Xmail asap!" Another commented that "I will use my Gmail as how I use my Hotmail now, for junks". Earlier in the day, an image floated around on X that appears to show an email from Google about it "sunsetting" Gmail in August 2024. The email turned out to be fake and "Gmail is here to stay," said Google. The company is shutting down the basic HTML view this year and the users will be switched to the service's "Standard" view. SEE ALSO:<a href="https://www.businessinsider.in/business/telecom/news/reliance-jio-and-airtel-add-subscribers-as-vis-subscriber-base-continues-to-decline/articleshow/107934565.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/telecom/news/reliance-jio-and-airtel-add-subscribers-as-vis-subscriber-base-continues-to-decline/articleshow/107934565.cms" target="_blank">Reliance Jio and Airtel add subscribers as Vi’s subscriber base continues to decline</a><a href="https://www.businessinsider.in/tech/mobile/webstories/iqoo-neo-9-pro-vs-oneplus-12r-which-mid-range-phone-should-you-buy/slidelist/107938249.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/webstories/iqoo-neo-9-pro-vs-oneplus-12r-which-mid-range-phone-should-you-buy/slidelist/107938249.cms" target="_blank">iQOO Neo 9 Pro vs OnePlus 12R – which mid-range phone should you buy?</a><a href="https://www.businessinsider.in/business/auto/news/kawasaki-ninja-500-sports-bike-launched-in-india-at-5-24-lakh/slidelist/107916430.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/news/kawasaki-ninja-500-sports-bike-launched-in-india-at-5-24-lakh/slidelist/107916430.cms" target="_blank">Kawasaki Ninja 500 sports bike launched in India at ₹5.24 lakh</a>

Elon Musk says Gmail's alternative Xmail is coming soon

<ul><li>Reliance <keyword id="2003276" type="General" weightage="100" keywordseo="jio" source="Orion">Jio</keyword> is set to begin 5G services in the country by Diwali this year.</li><li>The company is also working on developing an affordable 5G smartphone with <keyword id="6355629" type="General" weightage="20" keywordseo="google" source="Orion">Google</keyword>.</li><li>The company may benefit if Chinese companies are banned from the Indian budget smartphone segment.</li></ul>Over the past few weeks, there have been <a href="https://www.businessinsider.in/tech/mobile/news/indian-government-is-reportedly-planning-on-restricting-xiaomi-realme-vivo-and-oppo-from-the-budget-smartphone-segment/articleshow/93432631.cms">reports</a> that the government is planning on banning Chinese companies from the budget smartphone segment. This is reportedly aimed at boosting domestic companies as Chinese companies <a href="https://www.businessinsider.in/tech/mobile/news/four-out-of-five-smartphones-sold-in-india-were-from-chinese-companies/articleshow/93701715.cms">dominate</a> the Indian smartphone segment. Experts have been <a href="https://www.businessinsider.in/tech/mobile/news/indian-phone-brands-may-not-be-able-to-fill-the-void-that-chinese-budget-phone-ban-may-create/articleshow/93751192.cms">sceptical</a> about how beneficial this will be as Chinese smartphone makers account for nearly 80% of the market share in the budget segment, and they believe domestic companies may not be able to fill the void left by the Chinese smartphone makers. Reliance Jio has <a href="https://www.businessinsider.in/business/telecom/news/jio-set-to-launch-true-5g-services-this-2022-diwali/articleshow/93854727.cms">announced</a> that 5G services will launch in India this Diwali, starting in key cities of India, including Delhi, Mumbai, Kolkata and Chennai. During the 45th annual general meeting of Reliance Industries, <keyword id="3820" type="General" weightage="20" keywordseo="mukesh-ambani" source="Orion">Mukesh Ambani</keyword> also announced that the company’s telecom arm, Reliance Jio, is working with Google to develop affordable 5G smartphones. <cmsannotation type="cmsannotation" annotationid="Reliance Jio may benefit from a ban" comment="subhead" text="Reliance Jio may benefit from a ban">Reliance Jio may benefit from a ban</cmsannotation> As domestic companies may not be able to meet the demand if Chinese companies are banned from the budget smartphone segment, Reliance Jio may benefit from this. Reliance already has good experience with churning out affordable smartphones. The company’s Lyf brand had a market share of around 7% in Q1 2017 and occupied the fifth position in the Indian smartphone segment. The company’s affordable JioPhone became one of the most popular budget phones in the country during 2018 and accounted for over 35% of the feature phones market share in Q1 2018, as per a Counterpoint <a href="https://www.counterpointresearch.com/india-feature-phone-market-doubled-smartphone-market-remained-flat-yoy-q1-2018/">report</a>. Experts also believe that Jio may benefit from a ban in India. “Sub ₹12,000 category will see very careful participation from Chinese players unless there is clarity. It surely is an advantage Jio but making 5G under ₹12,000 is also not easy,” said Tarun Pathak, Research Director, Counterpoint Research. Currently, it is not clear how the upcoming device from Jio and Google will be priced. However, we expect the company to launch devices under ₹12,000. We should know more about the upcoming smartphone in the coming days. SEE ALSO: <a href="https://www.businessinsider.in/tech/mobile/news/indian-phone-brands-may-not-be-able-to-fill-the-void-that-chinese-budget-phone-ban-may-create/articleshow/93751192.cms">Indian phone brands may not be able to fill the void that Chinese budget phone ban may create</a> <a href="https://www.businessinsider.in/business/telecom/news/jio-set-to-launch-true-5g-services-this-2022-diwali/articleshow/93854727.cms">Jio set to launch True 5G services across major Indian cities this Diwali</a> <a href="https://www.businessinsider.in/tech/apps/news/how-to-use-jiomart-on-whatsapp/articleshow/93871111.cms">How to use JioMart on WhatsApp</a>

Amid reports of ban on Chinese budget smartphones, Mukesh Ambani reveals Reliance Jio and Google are working on an affordable 5G smartphone

<ul><li>The <keyword id="11924074" type="General" weightage="20" keywordseo="shark-tank-india" source="Orion">Shark Tank India</keyword> judge says gatekeepers of the app ecosystem – Apple and <keyword id="19902762" type="General" weightage="20" keywordseo="google" source="keywords">Google</keyword> – are the new East India Company and they operate with complete arrogance and impunity.</li><li>Just as startup founders are coming under pressure, venture capitalists and auditors too need to be held accountable for their behaviour.</li><li><keyword id="20225195" type="General" weightage="20" keywordseo="shark-tank" source="keywords">Shark Tank</keyword> India has become a catalyst for driving entrepreneurship and giving it legitimacy. </li></ul> <keyword id="127971" type="General" weightage="100" keywordseo="anupam-mittal" source="Orion">Anupam Mittal</keyword> is India’s original internet entrepreneur, who is the founder and CEO of People Group. Way before platform economy became a buzzword, Mittal built a platform for Indians seeking life partners. And even today one million Indians find their partners on shaadi.com every year. Call him the OG of startups or a serial entrepreneur, he is a man who does not mince words. In a free wheeling chat with Business Insider’s Malini Bhupta, Mittal talks about unfair trade practices of Google, his investment in Ola’s Bhavish Aggarwal and what he thinks is the biggest achievement of Shark Tank India. Edited Excerpts: With some high profile startups like Paytm and Byju’s coming under lens, what do you think is wrong with the startup ecosystem? I think the Paytm issue is a little different. There are two issues there in my view – one is valuation. The company came out with its IPO at the height of the unicorn boom and as a result, their valuation was corrected when the pvt. market corrected. This is part of the pricing game and one can hardly blame them for it. Eventually, they would have grown into their valuation is what I believe. However, the second issue which is regulatory in nature is far more serious. Whether it is justified or not I don’t know. I think there is a little heavy-handedness here as what you are talking about is a payments bank KYC stuff being the reason to shut them down, which could be seen as over-reach since they are not a significantly important lending institution. Talking about what is wrong with India’s ecosystem and why founders are behaving badly is a common issue that occurs when there are high levels of greed. When there is massive liquidity in the system people think they can take advantage of the situation. In the US you have seen Theranos, crypto frauds and an industry that was created around SPACs. Billions of dollars have been lost on that. What is happening in India is a small reflection of that. Greed manifests in two ways – one is the founders who are ambitious who see the ecosystem celebrating unicorns and that gets weaponised. Over time a few start with minor refractions and very soon they start fabricating revenues and manipulating auditors to keep up with the image that has been created. They are riding tigers they can't get off. The venture capitalists too want to see their investments being marked up as their future fund raises depend on the portfolio's net asset value and so they play along and at times actually drive the founders at a velocity that is unsustainable. I think they need to be held accountable by their LPs. Auditors have a very important role here and are perhaps the ones who need to pay the highest price through government censures. They are market participants who have been entrusted with a certain job for which they get paid hefty fees. When they start looking the other way, the system breaks. You have been waging a pitched battle against the unfair trade practices of Big Tech companies in India. What, in your view, are the steps that need to be taken by the government to prevent such unfair practices by large global players? Fundamentally the experience of the internet is through apps – two companies control the entire app ecosystem Google and Apple. Both operate with complete impunity. Two years ago the CCI passed an order against Google around <keyword id="963171" type="General" weightage="20" keywordseo="google-play" source="Orion">Google Play</keyword> Billing System (GPBS). Now they have changed the name to User Choice Billing. If you look at the order CCI says there will be no discrimination at all. Being on the App Store means nothing unless you advertise on Play Store. Startups spend anywhere between 10-50% of revenue on advertising on these platforms already. Essentially, the app store is worth nothing if you don’t have content. What choice does a company have but to adhere to their unfair practices… Now they say that any transaction that happens on apps downloaded via the store will be subject to 15-30% tax/commissions. What this means is that they want 50% of the revenues of the startups. It is the new East India Company and they operate with complete arrogance and impunity. The problem is in getting these companies to comply. Their strategy is to stretch out the legal process and tire the system. Our government and regulators have the right intent but sometimes democracies are messy. As a government, we have to ensure that nobody becomes the gatekeeper to our economy which is what these companies are trying to do. There should be penal provisions for anybody who abuses the law or twists and turns it while violating the very spirit of it. Non-compliance with judicial orders is contempt of court and so there is an opportunity to send a very strong message. These bullies need one arm chopped off in the form of penalties, a rap on the knuckles will not work as they are too big to care about a couple of hundred million in penalties. What is the biggest achievement of Shark Tank, which has now become a huge hit in India? In life timing is everything. Shark Tank’s first season was in December 2021, which was the peak of the startup hype cycle, and it demystified the whole conversation around startups and funding. Shark Tank has become a catalyst for driving entrepreneurship and giving it legitimacy. India is a land of entrepreneurs with every second person running some small business, many from home. A decade ago, if you told someone you are an entrepreneur, you would be told to come back when you get serious. The show has played an amazing role in celebrating entrepreneurship and the startup ecosystem. A lot of companies have done very well. About 8-10 companies that got funded in Shark Tank are doing very well out of 180 companies that came to the show. This is an early stage game and will play out the same way. When you invest in 100 early stage companies, 4-5 will do very well and help recover the investments and some will become very big. A majority will fail. What I found amazing was that the companies that came to the show were not the elites who came from IIT or IIM. These are small businesses founded by housewives and family members. Entrepreneurship is not the reserve of the few. The next decade will be defined by Indian entrepreneurs globally and so there is no better time to be an entrepreneur than now. Shark Tank has put belief in every Indian that they can do it and that changes the game. Many of the founders that come to Shark Tank can do even better than the founders who have come from an IIT or an IIM. I believe that these people understand commerce and ‘dhandha’. The elitist founders are used to being served everything on a platter. Many professionals who come out of large companies or consulting firms cannot start without large funding. Out of the 100 unicorns we have, many will spectacularly fail in 2024 as they were built on the wrong foundations. These companies were built on a template of Ivy League founders and old school networks and so they got funded. Of the businesses that come to Shark Tank, what sectors can do well and stand a better chance of being funded? Indians now have the same aspirations as people in other parts of the world. Anybody who comes in and can bridge the gap between aspiration and affordability will do well especially in lifestyle. For example - Companies in the clothing and jewellery space will do well if they can deliver high aspiration at a value pricing. Last year a company called Snitch came with a revenue of Rs 60 crore and is now doing Rs 250 crore in sales. A company called Skippy, which makes ice pops was funded on Shark Tank too and has a run rate of Rs 50 crore from a few lakhs before ST. I funded a company called Sharmaji Ka Atta which has a revenue run rate of Rs 20 lakh a month in less than 12 months from less than 1 lakh. Another one called Whatsapp Wellness just got funded by HUL. Fundamentally, companies that can build premium products but don’t break the bank on affordability in categories like fashion, lifestyle and food will do well. People read labels now and the young generation is focused on what they are eating. Beauty and wellness products will do well as a secular trend for most of our history Lakme meant beauty, that’s how unbranded we were. Do you feel Shaadi.com is still relevant after Tinder and other dating apps came about? Let’s understand why Tinder is used, it is for hookups and is struggling to grow its revenue in India. Shaadi.com is not an arranged marriage platform. Shaadi.com is a planned marriage platform. Indian culture has four stages of life and marriage is one of the life stages. When you are planning to marry you look for compatibility and it is not about a chemical reaction. On Shaadi.com the family and parents collaborate to find a partner. The old community networks are now dying and we replace those networks. We are bringing together people in the same life stage to find a like-minded partner. The hook-up sites don’t do that and don't understand the Indian ethos. They are applying the same global model to India which does not work beyond a certain point. You were the original internet entrepreneur with a disruptive product. Why did you not create a large business that went on to become a decacorn or a unicorn? It depends on how you define success. If the definition is labels such as decacorn and unicorn, then that's not the game we are playing. Those are vanity labels that I would rather not pursue. Our definition of success is value creation and we are long-term compounders, much like Berkshire &amp; LVMH, so in a sense our ‘overnight’ success story is still waiting to become obvious to the world. From that lens, our ROCE is perhaps the best in the industry we have only ever raised about $20 mn but created several billion in value between our operated and invested cos. Our investee companies employ thousands, have raised over $20 bn and will go on to create $100 bn in value over time, in the bargain generating tremendous wealth for the country and hopefully for us too. We boast an IRR of 52% consistently for more than a decade which is extraordinary by any standards and a testament to our approach and story. Many people build businesses but we were fortunate to create entire industries such as online matchmaking via Shaadi.com, which we still run; proptech company Makaan.com which we sold to NewsCorp very handsomely; India’s first &amp; still the largest digital ad agency, Interactive Avenues, which we sold to IPG at a benchmark price that is yet to be crossed; India’s first mobile gaming company, Mauj Mobile which spawned a massive industry. So, whether it is our customers, employees, shareholders, the country or society at large, I think we have already impacted 10s of millions and while we don’t have a market listed entity like Jio or TCS to show for it, we have delivered massive national and global level impact. Keep in mind that we are most often the first to check into investee cost and every company we have founded has been the first in its industry. Our innovations have generated billions of dollars in wealth and given rise to innumerable founders and entrepreneurs who have learnt at our companies and gone on to build massive companies of their own. Further, I am still very young and the Indian opportunity is only now unfolding. In the next couple of years, you will see some of our other bets in space exploration, mobility real edtech, &amp; sustainable fintech come into the limelight besides something very special we are building on our own. So, in short, I still remain the OG and if you force me to use your labels we have birthed not one or two but several Unicorns &amp; Decacorns and that too with very limited capital. It is perhaps one of the most spectacular untold stories of value creation in the digital economy. Ola is one company that is headed for an IPO and you own 2% in the company. How did that happen? When we invested in Ola, there was not much of a concept of venture funding and the company did not have any suitors so we were able to get in at a very attractive valuation and hold an extremely healthy minority stake which obviously has been diluted over time. I think the network effects are so large that it is hard for others to get into it. I am still a shareholder and looking forward to the initial public offering. I invested in 2012 and when I met Bhavish first, I did not understand the problem he was solving as I live in Mumbai where cabs are available. So I did not think there was a problem. A few days later when I was in Delhi and needed a cab, I was told that they would call a taxi stand. After I came back from Delhi, I realised there was a problem everywhere. And I used to call the call centre and Bhavish used to answer the call centre, which showed me his commitment and reminded me of myself when I had started and so I invested.

Anupam Mittal hits out at Google — 'Tech bullies need one arm chopped off in the form of penalties'

<ul><li>Reliance Jio has been working on an affordable 5G smartphone for some time now.</li><li>A leak has revealed the design and some of the specifications of the smartphone.</li><li>Here’s everything you need to know about the <keyword id="10965012" type="General" weightage="100" keywordseo="jiophone-5g" source="Orion">JioPhone 5G</keyword>.</li></ul> Mukesh Ambani-led Reliance Jio during the launch of its<a href="https://www.businessinsider.in/business/telecom/news/jio-set-to-launch-true-5g-services-this-2022-diwali/articleshow/93854727.cms"> 5G services</a> in India had announced that the telecom giant is working with Google to develop<a href="https://www.businessinsider.in/tech/mobile/news/mukesh-ambani-reveals-reliance-jio-and-google-are-working-on-an-affordable-5g-smartphone/articleshow/93876846.cms"> affordable 5G smartphones</a>. It has been nearly ten months since and Jio has not revealed any information yet. However, a recent leak has now revealed the design and some of the specifications of the <keyword id="4792220" type="General" weightage="20" keywordseo="jiophone" source="Orion">JioPhone</keyword> 5G. While it is not clear if the device has been developed with Google, this won’t be the first time the telecom operator has partnered with the tech giant to launch a smartphone. In 2021, the company had launched the<a href="https://www.businessinsider.in/tech/news/jiophone-next-launch-in-india-price-specs-and-features/articleshow/87455678.cms"> JioPhone Next</a>, an affordable 4G smartphone in partnership with Google. <cmsannotation type="cmsannotation" annotationid="JioPhone 5G live image" comment="subhead" text="JioPhone 5G live image">JioPhone 5G live image</cmsannotation> <div type="twitter" handle="ArpitNahiMila" handlename="ArpitNahiMila" favoritecount="0" retweetcount="0" id="1671799350329217028"></div> The new leak posted on Twitter shows the back and the front of the smartphone, along with Jio and 5G branding at the back. As expected for an affordable smartphone, the leaked device is expected to come with a plastic back. We can see from the leaked image that the device will feature a dual camera setup at the back, with the primary camera being a 13MP sensor. This could be equipped with a 2MP sensor. On the front, the device comes with a waterdrop notch with a selfie camera, which could be a 5MP sensor. The tipster has also mentioned that the device could be equipped with a Unisoc 5G chipset or the Dimensity 700 processor. <cmsannotation type="cmsannotation" annotationid="JioPhone 5G launch and price" comment="subhead" text="JioPhone 5G launch and price">JioPhone 5G launch and price</cmsannotation> While Reliance Jio has not revealed any information about the smartphone yet, the tipster has mentioned that the device is expected to be launched between Diwali and new year. Considering that the company began its 5G rollout on Diwali in 2022, it is possible that it may use the same day for the launch of its smartphone. The JioPhone 5G is expected to be priced under INR 10,000. We expect the company to also announce bundled plans that will make the device cheaper. <cmsannotation type="cmsannotation" annotationid="Competition in the budget segment" comment="subhead" text="Competition in the budget segment">Competition in the budget segment</cmsannotation> The Indian budget smartphone segment is quite competitive and is dominated by Chinese smartphone companies such as Xiaomi, Oppo and Vivo. In June 2022, Chinese companies<a href="https://www.businessinsider.in/tech/mobile/news/four-out-of-five-smartphones-sold-in-india-were-from-chinese-companies/articleshow/93701715.cms"> accounted</a> for 79% of India’s smartphone shipments. Amid a crackdown on Chinese companies, a report had suggested that the government may<a href="https://www.businessinsider.in/tech/mobile/news/indian-government-is-reportedly-planning-on-restricting-xiaomi-realme-vivo-and-oppo-from-the-budget-smartphone-segment/articleshow/93432631.cms"> restrict</a> Chinese smartphone makers from the budget segment. The government however rejected this and said that there are no plans to ban Chinese companies from the budget segment. SEE ALSO: <a href="https://www.businessinsider.in/tech/news/carl-pei-led-nothing-may-launch-a-smartwatch-after-nothing-phone-2/articleshow/101182896.cms">Carl Pei-led Nothing looks set to join the smartwatch party in India</a> <a href="https://www.businessinsider.in/tech/mobile/news/oneplus-nord-3-nord-ce-3-specifications-leak-ahead-of-july-launch/articleshow/101156655.cms">OnePlus Nord 3 specs leaked, a foldable phone foray is imminent too</a> <a href="https://www.businessinsider.in/tech/mobile/news/nothing-phone-2-to-launch-in-india-on-july-11-heres-everything-we-know-so-far/articleshow/100968848.cms">Nothing Phone (2) to take its successful transparent design one step further – Key things we know before the launch</a>

JioPhone 5G leak reveals design, key specifications ahead of launch

<ul><li>The JioPhone Next, the affordable 4G smartphone jointly developed by <keyword id="6354504" type="DEFINITION" weightage="20" keywordseo="reliance-jio">Reliance Jio</keyword> and Google is all set to go on sale next month.</li><li>It will run on Android 11 (Go Edition) and offer 4G VoLTE connectivity.</li><li>Ahead of the official release, the specifications and price of the JioPhone Next have leaked.</li></ul>The JioPhone Next smartphone is going on sale in India on September 10. The affordable 4G smartphone has been jointly developed by Reliance Jio and Google. Its specifications are yet to be made official by Jio but leaks have already revealed what to expect. This time, the price of the JioPhone Next has been tipped. The smartphone is estimated to cost around ₹3,499 according to a <a href="https://twitter.com/heyitsyogesh/status/1427496912639471700" data-type="tilCustomLink">tipster</a>. If Jio indeed launches the JioPhone Next at this price, it won’t be surprising as the company’s chairman Mukesh Ambani had earlier <a href="https://www.businessinsider.in/tech/mobile/news/jiophone-next-smartphone-announced-check-out-features-launch-date/articleshow/83806398.cms" data-type="tilCustomLink">said </a>that it would be the most affordable smartphone not only in India but globally as well. The smartphone’s specifications were also revealed by the tipster. The JioPhone Next is expected to feature a 5.5-inch HD display. It is expected to come in two configurations of 2GB RAM + 16GB and 3GB RAM + 32GB. The smartphone is expected to be powered by the Qualcomm Snapdragon 215 processor, and it could run Android 11 (Go Edition). It is also expected to feature a 13-megapixel rear camera and an 8-megapixel front camera. The smartphone is expected to be powered by a 2,500mAh battery. The specifications are in line with a previous <a href="https://www.businessinsider.in/tech/mobile/news/jiophone-new-smartphone-coming-with-13-megapixel-rear-camera-and-android-11/articleshow/85297624.cms" data-type="tilCustomLink">leak</a> of the JioPhone Next. Apart from this, the JioPhone Next is expected to feature dual SIM support, dual 4G VoLTE, Wi-Fi and Bluetooth 4.2. As for the confirmed features of the JioPhone Next, it will come with optimisations for low-light photography. The smartphone will also have an HDR mode, and it will feature India-specific Snapchat lenses integrated into the phone’s camera. SEE ALSO: <a href="https://www.businessinsider.in/tech/mobile/news/jiophone-new-smartphone-coming-with-13-megapixel-rear-camera-and-android-11/articleshow/85297624.cms" data-type="tilCustomLink">JioPhone Next smartphone specifications revealed ahead of release</a> <a href="https://www.businessinsider.in/tech/mobile/news/jiophone-next-smartphone-announced-check-out-features-launch-date/articleshow/83806398.cms" data-type="tilCustomLink">Reliance announces JioPhone Next smartphone in partnership with Google – available from September 10</a>

JioPhone Next with 5.5-inch HD display, up to 3GB RAM expected to be priced around ₹3,499

<ul><li>Reliance will use <keyword id="691847" type="PERSON" weightage="20" keywordseo="Google-Cloud">Google Cloud</keyword> to power Jio’s 5G services, after announcing a co-developed Android smartphone, the JioPhone Next.</li><li>As part of this collaboration, Reliance will also move some of its core businesses like <keyword id="58448" type="COMPANY" weightage="20" keywordseo="Reliance-Retail">Reliance Retail</keyword>, JioMart among others to Google Cloud.</li><li>The announcement was made by <keyword id="164502" type="PERSON" weightage="20" keywordseo="Sundar-Pichai">Sundar Pichai</keyword> and <keyword id="3820" type="PERSON" weightage="20" keywordseo="Mukesh-Ambani">Mukesh Ambani</keyword> during <keyword id="6355199" type="COMPANY" weightage="20" keywordseo="reliance-industries">Reliance Industries</keyword>’ annual general meeting.</li></ul>Mukesh Ambani-led Reliance Jio and tech giant Google have come together to power the telecom giant’s 5G telecom services. This comes after both the companies co-developed the JioPhone Next, the first Android smartphone from the Indian telecom giant. At the Reliance Industries’ annual general meeting (AGM) today, June 24, Google’s Chief Executive Officer (CEO) Sundar Pichai announced that the two companies are taking their collaboration further with a new 5G partnership. <div type="Article" hostid="261" msid="83806398" title="Reliance announces JioPhone Next smartphone in partnership with Google – available from September 10" mstype="2" mssubtype="0"></div> This, Pichai said, will “allow users to connect to a faster internet, support businesses in their digital transformation, and help Jio build new services in sectors like healthcare, education, and more.” <cmsannotation type="cmsannotation" annotationid="Reliance to shift its core retail businesses to Google Cloud" comment="subhead" text="Reliance to shift its core retail businesses to Google Cloud">Reliance to shift its core retail businesses to Google Cloud</cmsannotation> Pichai made another important announcement, stating that Reliance will move its retail businesses to Google Cloud, in what will be a major win for the company against its rivals Microsoft and Amazon, who offer cloud infrastructure, too. Reliance Industries’ Chairman Mukesh Ambani said that the company will use Google Cloud to “power Jio’s 5G solutions and Reliance’s key businesses like Reliance Retail, JioMart, JioSaavn, JioHealth, and more. SEE ALSO: <a href="https://www.businessinsider.in/business/news/rils-mukesh-ambani-addresses-shareholders-at-agm/articleshow/83806120.cms">Reliance Industries’ AGM — Mukesh Ambani officially announces Saudi Aramco as strategic partner</a> <a href="https://www.businessinsider.in/tech/mobile/news/jiophone-next-smartphone-announced-check-out-features-launch-date/articleshow/83806398.cms">Reliance announces JioPhone Next smartphone in partnership with Google – available from September 10</a>

You Searched For "google jio" and got 10 results

Reliance Jio Q4 net profit rises over 13% to ₹5,337 crore

PTI

Jio launches internet-enabled Jio Bharat phone at Rs 999

PTI

Reliance Jio emerges as World's largest mobile operator in data traffic, surpassing China mobile

ANI

Reliance Industries quarterly profit stays flat; annual earnings hit record at ₹69,621 crore

PTI

Elon Musk says Gmail's alternative Xmail is coming soon

IANS

Amid reports of ban on Chinese budget smartphones, Mukesh Ambani reveals Reliance Jio and Google are working on an affordable 5G smartphone

Sourabh Jain

Anupam Mittal hits out at Google — 'Tech bullies need one arm chopped off in the form of penalties'

Malini Bhupta

JioPhone 5G leak reveals design, key specifications ahead of launch

Sourabh Jain

JioPhone Next with 5.5-inch HD display, up to 3GB RAM expected to be priced around ₹3,499

Marcia Sekhose

Jio and Google come together for 5G, leveraging Google’s cloud expertise and Jio’s networking prowess

Rounak Jain

Popular Keywords

Buying Guides