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Reliance Jio may spend INR 18,750 Cr in subsidies to price ‘JioPhone Next’ at INR 4K

Shortpedia

Content Team
Image Credit: Kai-tech

To provide ‘JioPhone Next’ at the affordable range of below INR 5K, Mukesh Ambani-led Reliance will reportedly spend INR 18,750 Cr in subsidy. According to an ET report, citing IIFL Securities’s estimation, Reliance Jio might need to subsidise consumers to the extent of INR 15,000 Cr if it targets selling around 75 Mn units, at INR 2,000 subsidy apiece.