Mumbai, July 5: Reliance Industries Chairman Mukesh Ambani on Thursday announced the launch of Jio Phone 2. The new Jio Phone 2 will hit the markets by August 16 this year and will be available at a price of Rs. 2999.

"We are now taking the JioPhone to the next level, with added capabilities and functionalities. Reliance is bringing WhatsApp, Facebook and YouTube to the Jio Phone. We will now extend fibre connectivity to homes, merchants, small and medium enterprises and large enterprises simultaneously across 1,100 cities to offer the most advanced fibre-based broadband connectivity solutions," daughter of Mukesh, Isha Ambani said while addressing the shareholders at the Reliance Industries' 41st Annual General Meeting.

Meanwhile, Mukesh launched Jio Phone Monsoon Hungama Offer where Jio users can exchange existing Jio Phone for a brand new feature phone for Rs 501.

Looking into the specifications, the phone comes with a 2.40-inch display with a resolution of 240 pixels by 320 pixels and it comes with 512MB of RAM.

The phone packs 4GB of internal storage that can be expanded up to 128GB via an SD card.

As far as the cameras are concerned, the Jio Phone 2 packs a 2-megapixel primary camera on the rear and a 0.3-megapixel front shooter for selfies. The Jio Phone 2 runs KAI OS and is powered by a 2000mAh. Also, the connectivity options include Wi-Fi, Global Positioning System (GPS), Bluetooth, Near-field communication (NFC) and frequency modulation (FM).

Earlier in the day, Mukesh also announced the launch of fixed-line broadband services Jio gig fibre. "We will extend fiber connectivity to homes, merchants, small and medium enterprises and large enterprises simultaneously across 1,100 cities to offer the most advanced fiber-based broadband connectivity solutions," said Mukesh.

While explaining the broadband for large enterprises, Ambani said that fixed-line broadband will mean having the ability to compete in the global marketplace, using digital tools and techniques that are powering the fourth industrial revolution.

He added that for merchants and small businesses, fixed-line broadband will enable fixed-line connectivity with the agility and customer obsession of a small owner-driven business you empower them to compete on level terms with larger businesses.

Reliance Industries Chairman further stated that Reliance is India's largest payer of Goods and Services Tax (GST), Excise and Customs Duty, and Income Tax in the private sector.

Speaking at the Reliance Industries' 41st Annual General Meeting, Mukesh Ambani highlighted that Jio's subscribers grew from 124 million at the end of last year to 210 million at the end of FY18.