Business News: Mukesh Ambani’s Reliance Jio is planning to launch 5G smartphone which is a lot less from ₹5,000. The Telecom company is planning to launch the 5G smartphone at just ₹2,500- ₹3,000 per piece, according to the company official.
“Jio wants to bring the device for less than Rs.5,000. When we scale up the sales, it can be priced in the range of Rs.2,500-3,000,” a company official said on the condition of anonymity.
In the Smartphone Market currently the 5G phones are starting with the price range of ₹27,000/-
The Telecom company Jio is targeting the people who still uses 2G connectivity. There are around 20-30 crore mobile user who uses 2G connectivity.
Mukesh Ambani in a 43rd AGM(Annual General Meeting) said that they wanted to make India 2G mukt i.e. free from 2G and emphasized to accelerate the change of 350 million Indian who are still using 2G connectivity to a affordable smart Phone.
Mukesh Ambani’s Jio recently announced the investments from Facebook, Google and other Companies this year. Google has invested around $4.5 Billion for a 7.73% stake in the company whereas Facebook has Invested around $5.7 Billion for a 9.99% Stake in Jio Platform.
Jio has raised around $20.2 Billion from 13 investors by giving around 33% stake of the company. The other investors are General Atlantic, Silver Lake, Qualcomm, Intel and Vista etc.
Jio is also working on its own 5G network equipment and has asked the Department of Telecom to allocate its spectrum for testing before exporting these products. The government is yet to give attention to this request of Reliance Jio.
Currently in India there are no 5G Services and government is yet to allocate the spectrum to telecom operators for running field trials.