"Today, we are launching a brand new JioPhone scheme, JioPhone "Monsoon Hungama".
The fixed line broadband will offer "ultra high-definition entertainment on large screen TVs, multi-party video conferencing from your living room, voice-activated virtual assistants, virtual reality gaming, digital shopping, immersive experiences", he said.
"We shall create this by integrating and synergizing the power of Reliance Retail's physical marketplace with the fabulous strengths of Jio's digital infrastructure and services".
After announcing the launch of JioGigaFiber, Ambani stepped aside for a while to let his daughter Isha, son Akash and Reliance Jio Director Kiran Thomas address the audience. It allows existing feature phone users to exchange their current phone for the JioPhone for ₹501 ($7).
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Reliance Chairman Mukesh Ambani, India's richest man, said the company will begin registrations for its fibre-to-home service from August 15, India's Independence Day. Mukesh Ambani highlighted that Jio's subscribers grew from 124 million at the end of past year to 210 million at the end of FY18. Indian consumers have been struggling for years with slow broadband Internet speeds and high prices, so the arrival of affordable FTTH services can change the game entirely.
"We will now extend fibre connectivity to homes, merchants, small and medium enterprises and large enterprises simultaneously", he told investors in Mumbai.
"From here onwards, it will depend on the profitability of Jio", said a fund manager, whose mutual fund owns Reliance shares.
Ambani kicked things off with the announcement that JioPhone now has over 25 million users across the country.
Reliance Jio will also soon detail a broader smart home platform which will include a handful of home products like surveillance cameras, connected speakers, GigaTV, smart plugs, thermostats, and more. JioPhone 2 registration starts this independence day (August 15). However, the Jio Phone platform does not have access to some of the most widely used apps in India. If you are interested in getting a JioGigaFiber connection, you can show the interest by going to Jio.com or through MyJio app from August 15th.