Jio has signed up 125 million subscribers since its launch in September 2016, causing a rush to consolidation in the multi-billion-dollar sector as competitors scramble to match its deep pockets.
The scrip of Dish TV India plunged 5.85 per cent, Sun TV Network went down by 2.65 per cent, Hathway Cable & Datacom fell 2.58 per cent, GTPL Hathway (2.28 per cent) and Den Networks (0.13 per cent) on BSE. The phone will be available through Jio Infocomm, a fully-owned subsidiary of RIL.
The new phone will "effectively cost zero" as buyers will be able to get the device for a one-time refundable security deposit of 1,500 rupees ($23.3), said Ambani, chairman of Reliance Industries, announcing the launch at the conglomerate's annual shareholders' meeting.
Mukesh Ambani, Chairman, RIL said the customers would be required to pay a refundable security deposit of Rs 1,500 for the 4G-enabled feature phone handset to ensure there is no "misuse of the free phone" which will be 100 % refundable after three years. A JioPhone user can use the phone for 36 months and get back the deposit amount. The cheapest network plan that a Jio feature phone user can buy, with free voice calls and 500 MB of data a day, is for ₹153 a month, ₹54 a week or ₹24 for a two-day plan.
The news will have also been carefully watched by South Korean tech giant Samsung and Chinese mobile phone maker Xiaomi who possess the lion's share of India's smartphone market.
Venkaiah Naidu resigns as Union Minister
Born in the coastal district of Nellore in Andhra Pradesh, Naidu was a swayamsevak with the RSS and later joined student politics. In this election only the 790 members of Lok Sabha and Rajya Sabha, including the nominated members, can cast their vote.
India's Reliance Jio has launched a keenly awaited 4G handset that could bring lower-cost 4G services within reach of millions of Indian consumers. Meanwhile, the data plans for JioPhone start from Rs 153.
Currently, there are no feature phones in the market, which support 4G services, including voice telephony.
JioPhone is the first 4G enabled feature phone which is made in India. "However, we see the low priced sachet plans of Rs 24/54 increasing the affordability of phone services, and could prove to be disruptive, leading to other telco operators being forced to float similar plans", the report said. The phone is available for beta-testing from August 15 and for pre-booking from August 24. The Rs 309 monthly pack is for users who'd like to broadcast their JioTV app on their television.
Talking about Jio services, Ambani said: "Jio, in next 12 months, will cover 99 per cent of our country's population". "We will soon have over 10,000 Jio offices, across every city and tehsil town of India. In addition, we will integrate with all major e-commerce platforms", he added. "Faster than even Facebook, WhatsApp and Skype", Ambani added. "Now India is number 1 in mobile data consumption and well on its way to becoming number 1 in mobile broadband penetration, in the coming months".
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