Reliance Industries
The handset, named JioPhone, will "effectively cost zero" as buyers will be able to get the device for a one-time refundable security deposit of 1,500 rupees ($23.32), Reliance chairman, billionaire Mukesh Ambani, said, announcing the launch at the petrochemicals-to-retail conglomerate`s annual general meeting (AGM).
The launch was widely anticipated as Ambani, India`s richest man, uses the company`s annual meeting to make key launch announcements that have in the past disrupted sectors.
($1 = 64.3200 Indian rupees)
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)
12:24 PM IST