Reliance Industries’ 43rd Annual General Meeting (AGM) Mukesh Ambani briefed the world, including his investors, on the financial situation of his company. Mukesh Ambani, chairman of the company, also spoke about Reliance’s future plans. This is a simple matter. Every listed company does the same thing every year. But with the announcement of Mukesh Ambani, the number of Chinese companies operating in India has increased. According to experts, Mukesh Ambani’s announcement has a lot to say, which Chinese companies first understand. Because of this, their problems have increased. Let’s find out why.
Find out what is the key to Reliance’s success
Chinese goods are considere be the cheapest in the world. But no one has caught the eye of Indian company Reliance. The company knows the meaning of hunting. Dhirubhai Ambani told Mukesh Ambani about the cheap formula when mobile services were launched in the country about 20 years ago. Because of this, Reliance Infocam became the fastest growing company in the country at the time.
But the company was later handed over to Anil Ambani due to family problems and everyone knows what happened next. But when Mukesh Ambani explained to Dhirubhai Ambani about the plans of the mobile phone company, he praised it. He explained that mobile phones can be used in the country, which can offer call cards at postcard prices. At the time, a postcard of 15 paise was available at the country’s post office. Mukesh Ambani formed Reliance Infocom accordingly. At the time, Reliance not only gave cheap calls but also handsets for Rs 500.
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At the meeting, Mukesh Ambani told his investors that Reliance and Google would work together to build a cheaper mobile operating system. But it is not immediately clear whether the two will make cheap handsets in the country together. So far, Chinese companies have intervened in the country’s cheap handset market. These Chinese companies are well aware of their position when they have not been able to stop Reliance Jio for more than a decade. If Reliance makes a cheap handset, it will be difficult to stand in front of it. This is a matter of concern for Chinese mobile companies. These Chinese companies know that just as Reliance Jio initially provided unlimited data for free, so can anything to stay on the market.
Chinese companies are now dominating the country:
China is dominating the Indian mobile industry and market. But Jio is known for changing its market structure. Internet, data and calling rates have changed dramatically in India since the launch of Geo. Now, Reliance Jio is preparing to enter the smartphone market, and Geo has partnered with Google and Kulcom to do so, which has worried Chinese mobile companies entering the Indian market.
These are the Chinese companies in the country:
Currently, Chinese brands such as Geoni, Realmi, Oppo, Vivo are in the Indian market. This is because of the fact that these companies have become very popular because of their anti-level phones. Chinese companies also focus on market share. According to a report in the Maharashtra Times, Chinese companies are dominating mid-range and premium range phones, but now there are very few options for Chinese phones other than affordable phones.