Mukesh Ambani's Reliance Jio is expected to launch a 5G smartphone for less than Rs 5,000 and gradually reduce the price to Rs 2,500-3,000 a device as it increases the scale of operation.
Reliance Jio is likely to target 200-300 million mobile phone users on the 2G network at present.
"Jio wants to bring the device for less than Rs 5,000. When we scale up the sales, it can be priced in the range of Rs 2,500-3,000," said a company official.
Currently in India, 5G smartphones are available starting Rs 27,000.
At 43rd Reliance Industries' Annual General Meeting (AGM), Mukesh Ambani, Chairman and MD, had asserted to make India '2G-mukt' (free of 2G connections).
He also emphasised on the need to accelerate the migration of 350 million Indians, who are currently using 2G feature phones, to an affordable smartphone.
Ambani, in July, had also announced Rs 33,737 crore investment by Google for a 7.7 per cent stake in Jio Platforms. He said that Jio will partner with the US tech giant to build an Android-based operating system for smartphones.
Reliance Jio is also working on its 5G network equipment and has asked the Department of Telecom (DoT) to allocate spectrum for testing before exporting 5G smartphones.
At present, India does not have 5G services and the government has not even allocated spectrum to telecom operators for running field trials.
(With PTI inputs)
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