Ambani’s Reliance Doubles Down on 5G Pledge After Record Profit
- Group’s Jio unit has started advanced tests for 5G: statement
- Conglomerate’s consumer businesses boost net income by 13%
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Indian billionaire Mukesh Ambani doubled down on his promise to offer 5G services on his wireless network as early as this year, as his conglomerate Reliance Industries Ltd. reported a record profit aided by its consumer businesses.
The group’s wireless operator, Reliance Jio Infocomm Ltd. -- India’s largest -- has started advance tests to prepare the fifth-generation, high-speed network, it said in a statement Friday. But the tycoon’s plans hinge on the availability of spectrum as the Indian government still hasn’t auctioned the required airwaves.