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India's most valuable company, Reliance is reported to be in talks with domestic assemblers to come up with a new version of its Jio phoneThe new smartphone will reportedly run on Google's Android and will retail for around Rs 4,000 ($55). The idea is to offer inexpensive phones along with low-cost wireless plans from Reliance Jio. The business strategy will be the same as was with Jio - offer a simple product for the new smartphone user base at aggressive pricing as per the report, Reliance is targeting as many as 200 million smartphones over the next two years.
With the establishment of Jio, Reliance Industries Ltd. has succeeded in suspending domestic wireless services for many years. Second, the company may be looking at a major part of India’s entry-level smartphones.
Similarly, it reportedly asked local suppliers to increase production capacity in India.
A new report by Bloomberg sheds reveals the same. According to the report, Reliance is targeting as many as 200 million smartphones over the next two years. When this happens, the company is poised to face a tough competitor with other smartphone giants in the country.
Reliance, India’s most valuable company, is reported to be negotiating with domestic assemblers to devise a new version of Geophone. The new smartphone is reportedly running on Google’s Android and will sell for around Rs 4,000. The idea is to offer a cheap phone and a low-cost wireless plan for Reliance Jio.
“We are, of course, trying to build a domestic company. There is a sweet spot on entry-level phones,” said Pankaj Mohindu, chairman of the Indian Cellular and Electronics Association, in a report. It was told. “The world recognizes that India is the best place for business and the best place for manufacturing.”
The business strategy is the same as for Jio. We offer simple products for the new smartphone user base at aggressive prices. The report emphasizes that new business ventures will also increase domestic manufacturing and reduce imports in line with the Indian government’s plans.
News Source: Bloomberg
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