Nearly 15 years after he brought 'Monsoon Hungama' scheme offering cheap handsets in an otherwise expensive market, billionaire Mukesh Ambani today announced 'JioPhone Monsoon Hungama', offering to replace old feature phone with JioPhone for just Rs 501.
Speaking at the 41st annual general meeting of Reliance Industries, Ambani also outlined a target of garnering 100 million JioPhone users in the "shortest possible time".
He also announced added capabilities and functionalities for JioPhone, an internet-enabled feature phone that offers 4G connectivity.
Announcing the new 'Monsoon Hungama' offer, Ambani said: "Today we are introducing another attractive offer to feature phone users...Starting July 21...they can exchange their existing feature phone for a brand new JioPhone for just Rs 501.
"We have thus reduced the effective entry cost of JioPhone from Rs 1,500 to as low as Rs 501."
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