Indian telecom giant Reliance Jio is expected to release its new entry-level 4G smartphone dubbed as the JioPhone Next very soon, this was developed in partnership with Google.
A few days back we got the news that the device may be available for pre-order starting this week, unfortunately, there is no update regarding that. We also got wind that Reliance intends to sell 5 crore units of the JioPhone Next and was establishing a sound supply and distribution chain.
A TV news channel today claims to have the details with respect to the pricing of the JioPhone Next earlier this week. According to Economic Times(via 91Mobiles), ET Now(business and finance news channel) shared details of the JioPhone’s pricing and its offers on Monday(30th of August) citing sources.
As per the report, the JioPhone Next will be available in two variants, namely a Basic and an Advanced. These versions are said to be priced at 5,000 INR($68) and 7,000 INR($96) respectively.
Customers buying the phone will have to only pay 10% cost upfront, while the remaining amount will be financed by partner lenders.
The report says that Jio has partnered with five banks like State Bank of India, Piramal Capital, IDFC First Assure, and DMI Finance for the financing of the sales of its upcoming handset.
Each of these banks has assured business worth 10,000 crore INR. That is not all, Jio is also reported to have assured 2,500 INR worth of credit support for four other Non-Banking Financial Companies.
Reliance Jio intends to achieve its target of 5 crore units in the first 6 months and has set internal targets for each of its distributors and financiers for sales. The JioPhone Next is manufactured by UTL Neolyncs, a joint venture between UTL Group and Neolync Solutions. The smartphone is scheduled to go on sale from the 10th of September.
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