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Rs 2500 JioPhone @ just Rs 1500! How RIL is planning to recover losses

Jio has amassed more than 128 million subscribers since its launch last year

Reuters  |  Mumbai 

Reliance Industries' telecom upstart Jio is footing at least 40 percent of the cost of its basic 4G phone, two sources familiar with the matter said, as it bets on recovering the investment by luring in millions of new customers. The JioPhone, rolling out this week for a refundable deposit of 1,500 rupees ($23.05), will cost at least 2,500 rupees ($39) to assemble, the sources told Reuters. That means Jio will likely carry more than $150 million in costs for every 10 million JioPhones it sells. And the company aims to build a subscriber base of between 250 million and 300 ...

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First Published: Tue, September 26 2017. 17:23 IST