JioPhone Next, Reliance Jio’s ultra-affordable, Google-backed smartphone, is set to launch later this month. Set for release on September 10, JioPhone Next will be more affordable than most of the smartphones you look at in the market. But, apart from the regular purchase of JioPhone Next, the company wants to give different options to the people, which seems like an elaborate sales structure. One of them, Jio Phone Next, will save people in the phone for Rs 500. But there is a screw here.
According to ET Now, Reliance Jio will partner with several Indian banks and lending partners to sell JioPhone Next through different payment modes. The telecom company can collaborate with State Bank of India, Piramal Capital, IDFC First Assure and DMI Finance. The company’s target is to do a business of up to 10,000 crores by selling 50 million units in the next six months, so it becomes necessary for the company to sell JioPhone Next.
JioPhone will be the next easy sales model. However, here you will get the regular one-time payment option. But Reliance Jio wants the customer to buy the phone at any cost. For this, Jio will not take full money from the customers initially. So how will this work? Let’s know.
Jiophone Next Price and Sale
According to the report, the company will bring two JioPhone Next models. One will be the essential JioPhone Next which will cost Rs 5000, while on the other hand, there will be JioPhone Next Advance which will cost Rs 7000. Customers will not have to pay the total price for whichever phone they want to buy.
They can buy the basic and advanced models by paying only 10 per cent of the entire amount, i.e. Rs 500. After this, they will have to give the rest of the money to the bank and the lending partner. It is clear here that you will have to retake this phone in instalments.
Reliance Jio has partnered with non-banking finance companies here known as NBFCs. If the customer buys the phone, he will have to pay a little more amount in such a situation. That is, the phone which is worth Rs 5000 will be worth more after applying EMI. However, how much this amount will be and the original price of the phone, there is no information about it at the moment.