Anil Ambani the CEO of Reliance communications today addressed the Annual general meeting for the shareholders of the company in Mumbai. The event started off with Gurdip Singh highlighting the shift in consumption trends of the mobile user today who spends 90 mins a day on apps as opposed to 10 mins on a voice call, indicating that data is the current growth driver for this decade like voice was for the previous one.
"While last year the average smartphone consumed only 200 MB, in a couple of years the number could go to 2 GB per phone. There will be 300 mln 4G users in two years from now,” Singh said. He added that 75% of Internet consumption happens indoors, and the company must have the right kind of spectrum to be able to cater to this need and it's 850 MHz spectrum is more than capable of penetrating through walls to provide seamless coverage.
Rcom in partnership with Jio is currently able to offer Gold standard LTE network and services to its subscribers Pan India, whereas incumbent operators will have to spend heavily in the upcoming auction to buy 4G airwaves to be able to survive the competition. Rcom has already crossed 1 million paying 4G subscribers on its network within 90 days of launch and they consume more than 1 GB data in a month. Rcom is actively looking to monetise its non core businesses like towers and DTH to reduce its debt by 75%.
Anil closed the AGM by saying "Mukesh and Anil Ambani are two brothers working relentlessly to fulfil the dream of Dhirubhai Ambani" which gave the shareholders confidence in the future of RCOM and it's market position.
