Reliance Industries Ltd. has announced to launch Rs 4000 worth 4G smartphone by December. Reliance Jio Infocomm Ltd, which is the company’s telecommunications unit, would offer high speed services at very affordable prices.
Mukesh Ambani made this announcement during annual shareholders meeting of Reliance Industries (RIL) on Friday, 12 June. Ambani said that it has been Jio’s top priority to ensure availability of affordable 4G smartphones.
“The combination of Jio’s strong initiatives and a supportive global environment, gives me the confidence that we will see 4G LTE smartphones in India at prices below Rs 4,000 by December of this year,” Ambani said. Jio plans to offer telecom, high speed data, digital commerce, media and payment services for about Rs 300 to Rs 500 per month.
The billionaire also revealed his company’s plans to complete investments worth 2 trillion rupees within the next 12-18 months. Apart from that, the company plans to unveil many more applications in coming weeks like switch-and-walk, which allows customers to copy everything from their old phone to a new phone, ‘Jio Drive’ which brings cloud capabilities to smartphone, ‘Jio Play’ that will allow users to watch TV channels on their handsets, ‘Jio Beats’ which is a music app, and ‘Jio Mags’ and ‘Jio News’ among others.