Billionaire Mukesh Ambani-led Reliance Jio, India’s largest telecom provider, has dominated the market for nearly a decade. However, Ambani’s telecom company has witnessed a downward spiral of late, losing a whopping 7.9 million (79 lakh) subscribers in the month of September 2024, thanks to resurgence of state-owned BSNL.
Now, adding to Jio’s woes, new data has emerged, revealing that the Mukesh Ambani-led telco has lost a chunk of its market share to rival telecom provider, Sunil Mittal’s Bharti Airtel.
According to financial data collated by Telecom Regulatory Authority of India (TRAI), Airtel has significantly closed the gap in in revenue market share (RMS) with market leader Reliance Jio, due to the former’s strong performance and major gains in revenue in urban as well as rural telecom markets across the country.
While Jio continues to enjoy a lion’s share of India’s telecom market, Airtel is closing in as it made significant gains in the second quarter of the current fiscal year, the data revealed.
As per the TRAI data, Jio had RMS 42.1%, while Airtel followed closely at 37.3% in Q2 of FY24, meaning the RMS gap between the two companies has shrunk to a little over 300 bps in Q2 FY25, from previous year’s 480 bps. The data further revealed that Airtel has gained 80 basis points (bps) on-year in Q2, its RMS surging to 39.1% against Jio’s 18 bps on-year rise to 42.2%.
The regulator’s data also revealed that Jio continues to lead the telecom market with a 41.6% of revenue market share, while the country’s top three operators accounted for 95% of sector revenue.
In another setback for Mukesh Ambani’s Jio, it lost a whopping 7.9 million (79 lakh) subscribers in a single month this year as millions of users switched to state-owned BSNL after private telcos hiked mobile tariffs by a significant margin earlier in July 2024.
from Latest News, Breaking News, LIVE News, Top News Headlines, Viral Video, Cricket LIVE, Sports, Entertainment, Business, Health, Lifestyle and Utility News | India.Com https://ift.tt/MCXsS0L