India’s wealthiest man debuts $12 Internet-enabled phone model
Mukesh Ambani, the richest man in India, has released a new mobile phone with Internet access for $12.
The low price of the Bharat phone allows Ambani’s Jio to compete in the non-smartphone market, which is used by about 250 million people in India. According to Geo, it will initially be available on a trial basis.
— Confidence Gio (@reliancejio) July 3, 2023
Bharat, priced at Rs 999 ($12), is the latest product from Jio, which changed India’s mobile sector in 2016 by offering initially free data packages and ultra-cheap voice packages.
The move sparks fierce competition, leaving Jio and incumbent Bharti Airtel to control the world’s fastest growing mobile phone market as an efficient duopoly. Geo is part of the Reliance Industries group.
Source: Financial Times.