Reliance Jio to increase prices in few weeks
Following competitors Airtel and Vodafone Idea, Reliance Jio on Tuesday said that it is also going to increase prices of its plans within the next few weeks. This united move from all leading telecom operators will improve revenues, increase ARPU and ultimately help in investments into 5G.
Jio in its statement said, “Like other operators, we will also work with the government and comply with the regulatory regime to strengthen the industry to benefit Indian consumers and take measures including appropriate increase in tariffs in next few weeks in a manner that does not adversely impact data consumption or growth in digital adoption and sustains investments.”
The company said that it is committed to bringing the 40 crore 2G customers to experience and participate in the Digital India eco-system and could to provide its full support for best quality and experience to all its customers.
While Vodafone Idea posted a loss of Rs 50,921 crore which is highest-ever quarterly loss by any corporate in India, Airtel also reported a loss of Rs 23,045 crore for the September quarter. But, Jio had posted a 45.4% increase in its stand-alone net profit to Rs 990 crore for Q2 of 2019-20 fiscal.
None of these telecom operators have revealed any detail about the extent of the price hike.