Mukesh Ambani can get Rs 10 thousand crore business from ‘India’s cheapest’ phone, analysts predict

Mukesh Ambani’s one of the most valued companies Reliance Jio Infocomm Limited recently concluded a Rs 99 crore trail by launching 10 lakh units of JioBharat V2 phone. Priced at Rs 999, JioBharat V2 is India’s cheapest internet-enabled phone. After tasting the initial success, Mukesh Ambani is reportedly scaling up the distribution of the JioBharat V2 phone. Analysts believe that Mukesh Ambani may be able to do Rs 10 thousand crore business from Rs 999 Jio Bharat phone in the coming years. In its latest research note, BoFA Securities has revealed that the Jio Bharat phone has a huge potential and it can be a big danger for Airtel and Vodafone Idea.

Analysts at BoFA Securities suggest that Jio Bharat V2 has a potential to garner around 100 million users in next 2-3 years. The new Jio Bharat V2 not only gets the benefits when it comes to the price of the device as the company has also announced a bunch of affordable data plans with the phone.

As of now, the company has partnered with Karbonn and Jio Bharat V2 is a result of that. Other manufacturers can also partner with Reliance Jio to launch an affordable internet-enabled smartphone that runs the Jio Bharat platform which enables users to access UPI, JioCinema and other services easily.