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.)
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
12:24 PM IST