JioPhone Next price revealed, installment plan starts at Rs 1,999

Reliance Industries said on Friday the smartphone created by its Jio telecom business and Alphabet's Google will be available in stores from the festive season of Diwali for an upfront cost of Rs 6,499. 

'JioPhone Next' can be purchased for Rs 1,999 and rest of paid in installments, said the company on Twitter.

The phone's pricing is expected to shake-up the lower end of India's smartphone market, the world's second biggest, said Reuters.

The phone will pose a major challenge to Chinese vendors such as Xiaomi and BBK Electronics, owner of the Realme, Oppo and Vivo brands, which currently dominate a $2 billion market for sub-$100 smartphones in India. Jio also aims to use the phone to poach 2G users from rivals Vodafone Idea Ltd and Bharti Airtel Ltd.