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Reliance Inbdustries chief Mukesh Ambani's latest venture into telecom, Reliance Jio Infocomm has the potential to dominate the industry as it stands at the cusp of transforming the sector with its latest offering that is widely expected to awe as well as lure Indian customers by the millions to its services and phones. The LYF smartphones are available in the price range of Rs 4,799-19,499 per unit. But how big can it get, that is the question on many people's minds. Here is a peek at the potential: (Image Source: Website)
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1. Reliance Jio Infocomm's LYF smartphone, retailed by Reliance Retail, could become a $1 billion brand in 2016-17 and corner a market share of about 7 per cent, brokerage firm CLSA predicts in a report. (Image Source: Website)
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2. "Achieving about 7 per cent market share of the estimated 137 million smartphone sales in FY17 will mean sales of 10 million units. This could make LYF a $1 billion brand using an ASP (average selling price) of $100," CLSA said. (Image Source: Website)
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3. Sales growth in LYF smartphones, CLSA said, "could drive a 31 per cent year-on-year bump to Reliance Retail's financial year 2016 revenue of Rs 216 billion". (Image Source: Website)
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4. "Sales will also get a boost from the ongoing invite-based offer for Reliance Jio Infocomm's 4G services, which is exclusively for buyers of LYF phones," CLSA said. Ahead of its commercial launch, Reliance Jio has thrown open its service to the public on a trial basis for free. A person can buy its SIM only after getting an invite from an employee of a Reliance Industries group firm. The other rider is he will have to buy an LYF handset being sold by Reliance Digital to avail of the service. Under the scheme, an RIL group firm employee can invite 10 people to buy Jio's 4G SIM cards and LYF handsets. The connection will come bundled with unlimited 4G mobile Internet and phone calls for 90 days, all for free. (Image Source: Website)
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A man today claimed on a social media site that his 4G Lyf phone, sold by RIL's retail arm Reliance Retail, burst into flames with the firm promising thorough investigation in the matter. (Representative image)
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