Reliance Jio announces Diwali offer: JioPhone price slashed to Rs 699

Jio is making the JioPhone available for a special price of only Rs 699. This is Rs 800 less than the current price of the JioPhone

Reliance Jio has come out with a special offer for the festive season, offering JioPhones for a special price of Rs 699. The usual price of the phone is Rs 1500.

"This is a clear saving of over Rs 800 without any special conditions like having to exchange your old phone," said Reliance Jio in a statement about the the "JioPhone Diwali 2019 Offer",.
 

The company said it will also offer data benefits valued at Rs 700 to customers who buy the JioPhone during the offer period. "For first 7 recharges that the customer does, Jio will additionally add Rs 99 worth of data," Jio said.

With the Rs 800 savings on the purchase price and Rs 700 worth of free data, the company pegged the total benefits for JioPhone buyers at Rs 1500. 

The company said the offer is aimed to woo 350 million phone users in India who are still on the 2G network. The company will look to come closer to its 500 million subscriber target through the offer. 

Mukesh Ambani, chairman and managing director of Reliance Industries, said: “Jio will ensure that no Indian is deprived of affordable Internet and the fruits of the Digital Revolution. By offering the ‘JioPhone Diwali Gift’, we are making an investment of Rs 1,500 towards bringing every new person from the Bottom of the Economic Pyramid into the Internet Economy."

The company has announced the offer at a time when the JioPhone's sales is on the decline. According to Counterpoint Research released last month, share of JioPhone in the featurephone market had shrunk from 47 per cent in the second quarter of 2018 to 28 per cent a year after.