Reliance Industries (RIL), at its 41st annual general meeting (AGM) today, announced a special offer. Under this scheme, called Jio Monsoon Hungama offer, feature phone users will be able to exchange their existing devices to receive a new version of the device at an effective price of Rs 501. This offer will be available from July 21, Reliance Jio said. That means the user will be able to exchange an existing device - of any brand - to receive a JioPhone device by making a payment of Rs 501.
Under this scheme, feature phone users can exchange their existing device for "a brand new JioPhone" for Rs. 501.
"We have thus reduced the effective entry cost of the JioPhone from Rs. 1,500 to as low as Rs. 501," said Mukesh Ambani, chairman of Reliance Industries, the parent company of Reliance Jio.
Currently, Reliance Jio offers two prepaid plans for JioPhone users. These plans, priced at Rs. 49 and Rs. 153, come with 28 days of validity period each.
Among other benefits, while Reliance Jio offers 1 GB of high speed data under the Rs. 49 recharge pack, it provides 42 GBs under the Rs. 153 plan, according to the telecom company's website.
Reliance Jio's customer base has grown to over 215 million.
"Two hundred fifteen million customers within 22 months of start is a record that no technology company has been able to achieve anywhere in the world," he said.