Reliance Jio to make 2cr JioPhones available in UP on a priority basis

At Uttar Pradesh Investors' Summit, Reliance Jio chief Mukesh Ambani announced to make over two crore JioPhones available in UP within the next two months on a priority basis.

JioPhone was unveiled at the Reliance Industries AGM on July 21, 2017, and  was made available to customers at an effective price zero. Customers are required to only pay a fully refundable, one-time, security deposit of Rs 1,500 against every JioPhone to avoid potential misuse.

As for specifications, 4G VoLTE-enabled JioPhone features an Alphanumeric keypad, a 2.4-inch QVGA display, and it runs KaiOS. It supports voice commands in 22 Indian languages and connectivity options include a headphone jack, microphone, speaker, and FM Radio.

As part of his four commitments for the state, Ambani said that his company will invest another Rs 7,000 crore in Uttar Pradesh over the next three years. Also, Jio will establish a Centre for the Fourth Industrial Revolution within the campus of a reputed university in Uttar Pradesh.

Meanwhile, RIL, through a subsidiary, has agreed to subscribe to a 5 percent equity stake in NYSE listed Eros at a price of $15 per share, which represents an 18 percent premium to last closing price. The transaction is subject to customary regulatory and other approvals.

Furthermore, RIL and Eros International Media Limited (“Eros India”) announced that they have agreed to partner in India to jointly produce and consolidate content from across India. The parties will equally invest up to Rs 1,000 crores in aggregate (approximately $150 million) to produce and acquire Indian films and digital originals across all languages.