Reliance Might Bring 200 Million Devices In Next Two Years Under Rs. 4,000

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Reliance Industries has reportedly asked local players to increase production as it wants to bring 200 million devices in the next two years. The company is likely to bring affordable 4G smartphones to compete against Chinese brands like Xiaomi.

Reliance Might Bring 200 Million Devices In Next Two Years

 

Reliance Industries is in talks with domestic players to bring smartphones under Rs. 4,000. The upcoming smartphones will run on Android operating software and will bundle with Jio's plans. This clearly means Reliance Jio wants to capture the handset market after capturing the whole telecom market. Besides, the company wants to increase domestic manufacturers like Lava International, Karbonn Mobiles, and Dixon Technologies.

"We are of course trying to build our domestic companies. We have a sweet spot in entry-level phones," Pankaj Mohindroo, chairman of the India Cellular & Electronics Association was quoted by Bloomberg. He added, "The world has realized that India is a great place to do business and a great place to do manufacturing also."

Apart from Jio smartphones, Airtel is also planning to bring locked smartphones in the country. The telecom operator is likely to bring bundled handsets with smartphone makers. This development comes soon after Ambani joined hands with Google and 13 other players for the stake selling.

Meanwhile, Reliance Industries today announced that US private equity firm KKR is planning to invest Rs. 5,550 crore in its retail arm. Furthermore, KKR is investing in its Asia private equity funds.

"This investment values Reliance Retail at a pre-money equity value of Rs. 4.21 lakh crore. KKR's investment will translate into a 1.28 percent equity stake in RRVL on a fully diluted basis," RIL said.

This is the second time in two weeks that Reliance Industries announced its stake selling deal. Earlier, Silver Lake has shared that it will invest Rs. 7,500 crore in the retail business of Reliance.

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