Jio may price 5G smartphone between Rs 8k and Rs 12k: Report
Reliance Jio is likely to price its 5G smartphone in the range of Rs 8,000 to Rs 12,000, once the company has achieved broad 5G coverage, in a bid to attract mass market 4G smartphone users, a report by Counterpoint Research said.
This strategy is similar to what Jio had done with the Jio Phone Next 4G smartphone, co-developed with Google, by attracting “hundreds of millions of 2G feature phone users to its 4G network”, the research firm said Monday.
“The two-prong strategy will be key to Jio’s growth and extend its leadership in the 5G era as well. Further, at some point in 2024, Jio will also be compelled to launch an affordable 5G mmWave+sub-6GHz smartphone as the cost deltas between the two have narrowed significantly from an overall BoM (Bill of Materials) fitting perspective,” the research firm said.
At Reliance Industries’ 2022 annual general meeting, chairman Mukesh Ambani had said that Jio aims to launch its 5G network in four metros-Delhi, Mumbai, Kolkata, and Chennai-by Diwali and achieve a pan-India coverage by December 2023. At the same time, he had revealed plans to launch ultra-affordable 5G phones in partnership with Google, though no details pertaining to the price or launch timeline were revealed.
According to brokerage Spark Capital, Jio may achieve a 5G subscriber base of 12/21 million and a blended average revenue per user (ARPU) of Rs 188/Rs 208 in FY24/FY25.
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