JioPhone Monsoon Hungama offer, the most attractive highlight of Reliance Industries AGM 2018 for the masses, will surely bring cheer to Reliance Jio users as customers can now exchange their old JioPhone with the new JioPhone. At RIL's 41st AGM, Mukesh Ambani, Chairman & Managing Director, Reliance Industries announced the launch of Monsoon Hungama offer that will kick off later this month on July 21. 

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"Starting July 21st. .. they can exchange their existing feature phone fora brand new JIOPHONE for just Rs 501!," Ambani said, while addressing shareholders at RIL's AGM.

With this, Ambani said Reliance Jio has reduced the 'effective entry cost of the JioPhone from Rs 1500 to as low as Rs 501'. 

To recall, the JioPhone was launched last year effectively free. Interested users could have purchased the JioPhone at Rs 1,500 which was refundable when the user returned the JioPhone.

Ambani further said that starting August 15, 'JioPhone 2 will be available at an introductory price of just Rs 2999'. 

"Our purpose is to accelerate the Digital Revolution in India with the extreme affordability of a JioPhone, so that each and every Indian can access the internet and enjoy the Digital Life," Ambani said. 

Further details about both these offers will soon be made available on jio.com. 

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Meanwhile, Reliance Jio doubled its subscriber base to 215 million in 22 months, Ambani said at the AGM.

"We have more than 25 million JioPhone users in india," Ambani told shareholders.

He also announced that the company is launching JioGigaFiber, Jio's fixed line broadband.