Reliance Launches Rs.0 Smartphone: Some Takeaways From Mukesh Ambani’s Announcement

Reliance's Mukesh Ambani on Friday announced that a smartphone called the JioPhone — a 4G VoLTE feature phone which he called ‘India ka Smartphone’-- will cost Rs. 0

Here are some takeaways from Ambani’s announcement: 

The JioPhone is free, a full refundable deposit of Rs 1,500 to be paid for JioPhone to prevent misuse; money to be refunded after 36 months on return of phone.

JioPhone to be available for pre-booking from August 24.

JioPhone will make the 2G feature phone obsolete.

From last quarter of 2017, all JioPhones will be made in India. The company is targeting to have 5 million JioPhones a week.

Jio will give them access to unlimited data on the JioPhone.

In the next 12 months, Jio services will cover 99% of our country's population.

Today, Jio has more than 100 million paying Jio Prime customers. Most have recharged on Jio's Rs 309 or higher plans.

Rs 1,000 invested in Reliance shares in 1977 today worth Rs 16,54,503 -- over 1,600 times more valuable.