Satellite Broadband space has recently witnessed the entry of major corporations in India. Companies like Sunil Mittal's OneWeb and Elon Musk's SpaceX are planning to launch the Satellite Broadband Services for the consumers. Now, Jio is also planning to enter the Satellite Broadband space.
To provide Satellite Broadband Services, Jio has formed a joint venture with Luxembourg-based SES. According to an exchange filing, the joint venture will deliver next generation scalable and advanced connectivity solutions to the users. The joint venture will provide affordable broadband services in India while leveraging satellite technologies.
For the joint venture, Jio has created a wholly owned subsidiary, Jio Space Technology Ltd., which would be holding the stake on behalf of the firm. In the joint venture, Jio will be holding a stake of 51%, while the SES would be having a 49% stake.
Jio-SES Joint Venture will provide its services across India and the neighboring regions. Target customers of the newly formed entity would include businesses, retail customers and back end users of wireless networks across India.
Satellites of the JV will be providing multi-orbit space networks to the users. The network will feature a combination of geostationary and medium earth orbit satellite constellations and would be capable of delivering multi-gigabit capacity to facilitate faster internet access.
Jio is one of the largest Telecom Service Providers in India. It is already having a large footprint in terms of wireless market share in the country. According to Kantar, India will be a key Telecom growth market as in 2020, only 622 million users had access to internet connectivity in India.
India has a huge scope for expansion of internet user base in the coming years. This makes it an attractive proposition for the Telecom players like Jio, OneWeb and SpaceX among others.
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