Reliance Industries Ltd.’s telecom unit, Jio, has become India’s second-largest operator by dethroning rival, Bharti Airtel. It became the second most popular network by number of subscribers as of May 2019, as revealed by government data.
Jio, since it was launched in 2016, has revolutionized the telecom industry in the country by releasing cheap services, which has resulted in many telecom service providers losing customers.
Data from the Telecom Regulatory Authority of India showed that 8.2 million users were added to the operator’s network by May-end, and the tally went up to 323 million wireless customers. The data was released on Friday.
Reliance Industries is expected to publish quarterly results by end of day. Even the top operator in the market with 387.6 million users, Vodafone Idea, along with Bharti Airtel, lost users over the month. Mukesh Ambani, Asia’s richest man, owns Jio.