System Engineer IBM | Posted on | Share-Market-Finance
Which new business is Anil Ambani starting?
Sales Executive in ICICI Bank | Posted on
The name itself –Ambani, is no less than any brand today. Even the slightest mention of the name of Ambanis gives way to the questions and thoughts of some big scheme or construction somewhere. While the introduction of Jio has granted Mukesh Ambani an unprecedented success, his brother Anil Ambani is facing ups and downs in his business.
Now Anil Ambani’s Reliance Communications is shifting its focus from the business of telecom to that of real estate. Reliance Communications has already declared the closure of its telecom business which clearly point that Anil Ambani has made up his mind for starting some new business.
What needs to be questioned is the fact that why the company which has always suggested other companies the benefits and profits of telecom business is suddenly taking a step backwards itself? One speculation is the financial problems the company is currently facing. And reports tell that Anil Ambani is all set to test his chances in the field of real estate now.
In 2002, when mobile phone used to be a luxury for everyone, Reliance Communications became the first company to sell mobile phones in as cheap a rate as Rupees 500. It was this step of Reliance, which started off a competition which gave way to a new telecom business model offering customers lowest of the low call prices, and various other exciting offers.
According to a report, “the company right now is indebted under a huge loan due to wrong expansion plans.”
Translated from Hindi by Letsdiskuss
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