Mukesh Ambani is all set to bring a revolution yet again when he unveiled the Jio phone in the annual general meeting of Reliance Industries Ltd. (RIL) The introduction of the phone is revolutionary no doubt as it appeals to the masses and by the way it brings a change in the Business Models in the ICE (information, communication, entertainment) industry.
Jio created a turmoil in the market when it hit 100 million subscribers in just 170 days. It gave a really tough competition to its competitors and disrupted their market out of nowhere. Everyone wanted a revolution like this but it was tough to guess the exact time, place and manner of how will it happen.
The chairman of RIL, Mr. Mukesh Ambani gave yet another surprise to their subscribers by announcing the launch of Jio phone with zero-pricing. A phone close to zero-pricing is a revolution in itself but launching such a thing in the second most populous nation which is still developing is certainly beyond profit and shareholder value. It is not fair to say that Mr. Ambani has any hidden intentions behind his moves but it definitely calls for appreciation because being a businessman it is not easy to let go of your profit and rather serve the nation. This will not only help in the development of the country but also benefit the people on a large scale.
The founder of the company, late Mr. Dhirubhai Ambani must be smiling from where he is for what his son is doing. India is a growing nation and the basic needs are changing from food, clothing, shelter to food, clothing, shelter, electricity, and bandwidth.
Nokia ushered the smartphones. Blackberry made it corporate where as apple brought a whole new revolution. Korea’s Samsung China’s Xiaomi made it affordable for the Asians. And now Mukesh Ambani in his words is making “connectivity, data affordability and device affordability” together with price plans that woo even the lower most segment of the communication pyramid.
Commentators will no doubt calculate interest rates and hidden pricing in the 3-year, Rs.1,500 refundable deposit that the Jio Phone entails. But the real deal is the back-end where RIL is quietly becoming a media company to buttress its hold on e-commerce through Reliance Retail and how it will make bankers, investors, and overseas bond markets will respond to the plan.
The price is even cheaper than what it was rumored, people have to pay Rs. 1500 up front as security deposit which is refundable after 3 years which makes the phone free for the customers. With many exciting offers, Jio is all set to change the communication industry. People can JioTv and JioMovies along with free calling and free messaging at just 153 rupees per month. The phone also provides with high-speed data with the cap of 500MB per day.
The Jio Phone will be made available starting August 15 in a beta program, and it will be up for pre-booking from August 24 onwards. You can place your orders before its arrival using the MyJio app or Jio offline stores. Customers who pre-book the phone will be eligible to purchase it from September onwards, on a first come first serve basis. Mukesh Ambani said Jio is targeting to have 5 million Jio Phones available every week. We hope that Mukesh Ambani’s vision and revolution can help the country develop.