Mukesh Ambani has a four-letter strategy to win India’s telecom wars—free
Mukesh Ambani, India’s richest man, is pulling out all the stops to make his telecom venture fly.
On July 21, Ambani announced that Reliance Jio will offer free 4G-enabled phones to its subscribers—although buyers will put down a “fully refundable” one-time security deposit of Rs1,500 ($23.32).
“…there are more than 50 crore (500 million) feature phone users who have been left out of the digital revolution,” Ambani said at Reliance Industries’ annual general meeting in Mumbai, where he launched the JioPhone. “This digital disempowerment and unfairness must end. Jio is committing to end it today.” In effect, apart from giving telecom companies a run for their money, Reliance Jio is also set to disrupt India’s smartphone market.