New Delhi, July 4 (IANS) Jio's new launch increases competitive intensity but the impact is limited, Goldman Sachs has said in a report. "We believe Jio's new product launch (announced 3rd July post market) should help it garner incremental wireless subscribers, which we would view as a positive catalyst for the RIL stock. However, with the industry feature phone base continuing to decline (50-60 mn total shipments in FY23), we see the potential revenue impact, while positive for Jio and negative for Bharti, as likely to be limited," Goldman Sachs said. Jio announced the launch of a new entry level 4G feature phone, the <keyword id="17888391" type="General" weightage="20" keywordseo="jiobharat" source="Orion">JioBharat</keyword> (JB) phone in addition to new entry priced unlimited plans. This opens a segment below Jio phones, priced at Rs 999 (below most 2G feature-phones). The new plan for JB phones offers unlimited voice calls and 14GB data at Rs 123 per month, lower than Bharti's and IDEA's unlimited plans at Rs 179 per month. JB phones run on a RTOS developed by Jio and manufactured by Karbonn in addition to other OEMs. JP Morgan said in a report that this could disrupt the 2G market and help Jio gain share post fading success of Jio phone devices. Bharti recently raised 2G prices from Rs 99 to Rs 155 across all circles while Vi took this in one circle. This disruptive step can halt incremental tariff increases for 2G and help JIO gain share in that segment, the report said. Jio already had become aggressive at the premium end in March'23 through aggressive postpaid plans in addition to fiber pricing. We think this is negative for both Bharti and IDEA given returning disruption and tariff aggression at the bottom of the pyramid and signals lack of support for 4G tariff actions, it added. Reliance Jio is launching an entry-level phone with more aggressive plans vs. the competition to attract feature phone users. While the price point is competitive, given a break-even period of over 15 months for a new user, we do not view this as immediately disruptive for Bharti but would be watchful, Morgan Stanley said in a note.

Jio’s new launch could disrupt the 2G market say analysts

<ul><li><keyword id="17888391" type="General" weightage="20" keywordseo="jiobharat" source="Orion">JioBharat</keyword>'s competitive pricing and decent device quality are expected to attract existing feature phone users. </li><li><keyword id="6354287" type="General" weightage="20" keywordseo="bharti-airtel" source="Orion">Bharti Airtel</keyword> may experience voice subscriber churn of approximately 17 million by March 2026. </li><li>Analysts at Jefferies Equity Research maintain a BUY rating with a revised price target of ₹1,020. </li></ul>Back in September 2016, Reliance <keyword id="2003276" type="General" weightage="20" keywordseo="jio" source="Orion">Jio</keyword> disrupted the Indian telecom market when it launched its mobile telephony and data services. Cut to 2023 and Jio is set to disrupt the market again with JioBharat the cheapest <keyword id="122479" type="General" weightage="20" keywordseo="4g" source="Orion">4G</keyword> feature phone priced at ₹999. Analysts at Jefferies Equity Research while analysing the impact of the launch, believe that over the next few years this will hit Bharti Airtel, its biggest competitor, with a potential 1-4% reduction in their India-mobile subscribers. <cmsannotation type="cmsannotation" annotationid="Jio expected to gain market share" comment="subhead" text="Jio expected to gain market share">Jio expected to gain market share</cmsannotation> JioBharat's competitive pricing and decent device quality are expected to attract existing feature phone users. Those nearing the end of their device life could potentially save 26% on their overall mobile expenses (device + service) by switching to JioBharat. However, users who are content with their current handsets may not switch. As a result, JioBharat is estimated to have an annual addressable market of approximately 60-65 million users. Based on this, the report anticipates Reliance Jio gaining around 55 million subscribers by March 2026. <cmsannotation type="cmsannotation" annotationid="Airtel’s subscriber estimates lowered" comment="subhead" text="Airtel’s subscriber estimates lowered">Airtel’s subscriber estimates lowered</cmsannotation> Bharti Airtel currently has around 130 million active 2G subscribers and over 100 million paying voice subscribers, giving it a substantial 40-50% share in the 250 million <keyword id="8627917" type="General" weightage="20" keywordseo="feature-phone" source="Orion">feature-phone</keyword> market. Despite having a better <keyword id="6359918" type="General" weightage="20" keywordseo="network" source="Orion">network</keyword> compared to other 2G operators, its dominant position in the feature-phone market may result in higher subscriber losses. As a consequence, the report projects Bharti Airtel to experience voice subscriber churn of approximately 17 million by March 2026, leading to a potential 1-4% reduction in their India-mobile subscriber estimates for the fiscal years 2024 to 2026. <cmsannotation type="cmsannotation" annotationid="What else is affecting Bharti Airtel’s growth?" comment="subhead" text="What else is affecting Bharti Airtel’s growth?">What else is affecting Bharti Airtel’s growth?</cmsannotation> Jio's focus on subscriber gains through network capacity additions and JioBharat launch may delay tariff hikes. Tariff hike assumptions are adjusted from 15% by end of calendar year 2923 to 20% in Q2 FY2025, resulting in a 3-5% cut to FY2024-2025 India Mobile average revenue per user (ARPU) estimates. The recent 68% devaluation of Nigerian Naira vs USD affects Bharti Airtel's Africa growth until Q1 FY2025, leading to a 17-21% reduction in Africa revenues and Ebitda. The market value of Airtel Africa has also corrected by 15% due to the Naira devaluation. <cmsannotation type="cmsannotation" annotationid="BUY rating maintained" comment="subhead" text="BUY rating maintained">BUY rating maintained</cmsannotation> Considering the delay in tariff hikes and the potential subscriber churn due to JioBharat, the analysts have revised their FY2024-2026 India revenue/ EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortisation) estimates for Bharti Airtel, reducing them by 2-5%. However, it is still anticipated that Bharti Airtel will achieve strong growth with 15-16% CAGR in India revenue and EBITDA over FY 2023-2026, along with improving return on capital employed (ROCE) and generating more free cash flow. Furthermore, the impact of JioBharat may accelerate the move towards a duopoly in the market, leading us to raise the target enterprise value (EV)/EBITDA for India to 10x (in line with the 5-year average). So the analysts maintain a BUY rating with a revised price target of ₹1,020. The BUY rating is based on a favourable risk-reward scenario at the current price levels. Key factors contributing to this recommendation are Bharti's significant share gain in 4G subscribers, their intention to increase ARPU, and an optimistic tariff outlook driven by the government's stake in the stock. These factors align to present a compelling case for investors to consider buying Bharti's shares.<div type="image" title="Bharti Airtel" msid="102104466" hostid="261" sizebytes="22694"></div>

Will the newly launched JioBharat feature phone impact Airtel? Jefferies believes so

<ul><li><keyword id="6354504" type="General" weightage="20" keywordseo="reliance-jio" source="Orion">Reliance Jio</keyword> Platforms’ Q2 net profit grew 3.9% QoQ while its revenues grew 2.9%.</li><li>It added over 11 million subscribers during the quarter.</li><li>Its average revenue per user (ARPU) increased 2.5% Y-o-Y to ₹181.7 driven by better subscriber mix. </li></ul>Reliance Jio Platforms’s consolidated second quarter net profit rose 3.9% sequentially to ₹5,297 crore from ₹5,098 crore in the June quarter. Its revenue from operations went up by 2.9% to ₹26,895 crore as compared to ₹26,115 crore in the first quarter of FY24. It also added 11.1 million subscribers during the quarter. Its earnings before interest depreciation tax and amortization (EBITDA) rose 3% QoQ to ₹13,528 crore. Its EBITDA margin also went up by one basis point sequentially to 50.3% in the second quarter. Operating income rose 12.6% year-on-year, led by revenue increase and an 80 bps jump in margins. Depreciation increased due to higher network utilisation and incremental addition to gross block. “Strong subscriber growth across mobility and wireline services and scale up of digital services platform drove JPL consolidated revenue and EBITDA growth,” the company said in its press release. Its average revenue per user (ARPU) widened to ₹181.7 from ₹180.5 in Q1. This is driven by better subscriber mix across mobility and wireline partially offset by the start of 5G services, the company said. The results seem to be in line with expectations of analysts. “For RJIL, we expect EBITDA growth to be led by good growth in subscribers while ARPU could show some uptick QoQ. We expect revenue of ₹247.8 billion (+3.1% qoq, +10.1% yoy), EBITDA of ₹129.8bn (+3.2% qoq, +12.9% yoy) and EBITDA margin of 52.4% (+3bp qoq, +16bp yoy). We have assumed revenue growth to be led by incremental subscriber additions of 10 million with ARPU seeing a slight uptick to ₹182,” said a report by Morgan Stanley. On a year on year comparison, its Q2 net profit went up by 12%, and revenue from operations by 10.6%. “I am happy that Jio remains committed to the vision of a digital India through the launch of two innovative and transformative offerings, JioAirFiber and JioBharat phone. By December 2023, we will also complete pan-India rollout of 5G services and set a new global benchmark for the fastest roll-out of a 5G network across a large nation,” said Mukesh D Ambani, CMD of Reliance Industries. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"><colgroup></colgroup><col /><col /><col /><col /><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Particulars </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Q2FY24 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Q1 FY24 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">QoQ Change </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Revenue from operations </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"> ₹26,875 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹26,115 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2.9% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Net Profit </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹5,297 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹5,098 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">3.9% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">EBIDTA </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">13,528 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">13,116 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">3% </td></tr></tbody><tbody></tbody><tbody></tbody></table>Source: Media release In Q1, RJio reported 2.2% sequential growth in net profit, and a similar 2.5% growth in its revenue from operations. It had also added 9.2 million subscribers during the quarter. The telecom major’s average revenue per user (ARPU) grew 1.7% sequentially to ₹180.5 in Q1. On Friday, Reliance Jio demonstrated India’s first satellite-based giga-fibre service which will provide high-speed, affordable Internet services in inaccessible areas across the country. Called JioSpaceFiber, it was showcased on the first day of ‘India Mobile Congress 2023’ in the presence of Prime Minister Narendra Modi. “Ubiquitous 5G, JioBharat and JioAirFiber are three big growth engines for Jio which would accelerate market share gains and profitability,” said Akash M Ambani, chairman of Reliance Jio Infocomm.

Reliance Jio Platforms Q2 net profit rises 3.9% QoQ to ₹5,297 crore

<ul><li>The <keyword id="6354813" type="General" weightage="80" keywordseo="nifty" source="Orion">Nifty</keyword> opened above 19,400 while the <keyword id="6484188" type="General" weightage="80" keywordseo="Sensex" source="Orion">Sensex</keyword> went above 65,500</li><li>The pharma and IT stocks are on a high while FMCG and metal packs are in the slow lane.</li><li>Reliance seems to be dragging the benchmarks down as it is trading more than 1.1% lower</li></ul> Indian benchmark indices, the Sensex and the Nifty, hit their fresh all-time highs in early Tuesday trade but saw a dip to trade flat in morning trade. At the time of updating this story, the Sensex and Nifty are up 220 and 40 points respectively. The Nifty opened above 19,400 while the Sensex went above 65,500. The pharma and IT stocks are on a high while FMCG and metal packs are in the slow lane. Eicher Motors is in the top laggard trading at more than 6% in the red. Its international competitor Harley Davidson has launched the X440 on Monday at a competitive pricing of under Rs 2.5 lakh. Reliance seems to be dragging the benchmarks down as it is trading more than 1.1% lower at around Rs 2,587 a share. The conglomerate saw the launch of Jio's internet-enabled JioBharat 4G phone at Rs 999 on Monday. There is a new debutant on Dalal Street too. HMA Agro has listed at ₹625 per share, a premium of more than 6% from the issue price of ₹585 per share on NSE. Meanwhile, <keyword id="111876" type="General" weightage="50" keywordseo="bajaj-finance" source="Orion">Bajaj Finance</keyword> ha seen the biggest single day gain in year as it trades in the green for the sixth consecutive day. The company has reported that its first quarter new loans booked rose by 34% compared annually. Meanwhile, the Indian rupee has opened a tad stronger against the US dollar at 81.92/$ vs Monday’s close of 81.96/$. The Sensex and Nifty soared to fresh closing record highs for the third successive session on Monday, with the 30-share index crossing the historic 65,000 mark on strong foreign fund flows and a rally in global equities. Hectic buying in index majors <keyword id="6355199" type="General" weightage="50" keywordseo="reliance-industries" source="Orion">Reliance Industries</keyword>, ITC and HDFC twins also added to the momentum, traders said.

Sensex, Nifty back near all-time highs after morning dip

<ul><li>Jio’s revenue from operations grew at 2.5% sequentially and 11.3% year on year. </li><li>It added 9.2 million subscribers during the quarter and its ARPU grew 1.7% sequentially. </li><li>Operating revenue growth was driven by subscriber gains in connectivity business and scale-up of digital services, the company said.</li></ul><keyword id="6354504" type="General" weightage="20" keywordseo="reliance-jio" source="Orion">Reliance Jio</keyword> Platforms reported a 2.28% sequential growth in consolidated net profit for the first quarter of FY24 to ₹5,098 crore as compared to ₹4,984 crore in the fourth quarter of FY23. Its revenue from operations also grew at 2.5% from the last quarter to ₹26,115 crore from ₹25,465 crore, as it added 9.2 million subscribers. Most analysts had expected it to add around 7-8 million subscribers. The operating revenue growth was driven by subscriber gains in connectivity business and scale-up of digital services, the company said in a release. “Jio’s wide range of quality offerings at affordable price points has enabled strong growth in subscriber base, which reflects in the financial performance of the digital services business,” said Mukesh D Ambani, CMD of Reliance Industries. On a year on year basis, its revenues grew 11.3%, while its net profit grew 12.5%. Its EBIDTA grew 2.6% sequentially to ₹13,116 crore, and 14.8% YoY. “Flattish ARPU QoQ at ₹180, 8 million subscriber net adds in telecom and flattish EBITDA margins. Overall,a sombre quarter, with 14% YoY EBITDA and 9% revenue growth,” said an earnings preview by Morgan Stanley. The telecom major’s average revenue per user (ARPU) grew 1.7% sequentially to ₹180.5. Its total expenses grew 2.5% sequentially and 9% year-on-year. Jio’s operating income rose 0.55% sequentially to ₹12,278 crore. Operating income was also impacted due to higher expenses incurred during the quarter. Total expenses rose to ₹17,594 crore from ₹16,136 crore a year ago. “Sustained subscriber growth across mobility and wireline services led to revenue and EBITDA growth for the connectivity business. In addition, growth in digital services platform with newer services like Managed Video Broadcast and Cloud solutions, drives JPL consolidated revenue growth,” the company said. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"><colgroup></colgroup><col /><col /><col /><col /><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Particulars </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Q1FY24 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Q4FY23 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Q1FY23 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Revenue from operations </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹26,115 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹25,465 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹23,467 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">EBIDTA </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹13,116 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹12,767 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹11,424 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ARPU </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹180.5 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹178.8 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹175.7 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Net Profit </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹5,098 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹4,984 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹4,530 crore </td></tr></tbody><tbody></tbody></table>Source: Company release During the quarter, Jio has introduced a 4G feature phone Jio Bharat at ₹999 to gain subscribers at the lower end of the market. JioBharat platform is ready to scale up with a successful initial trial of 1 million devices, the company said. It’s expected to gain a substantial market share in the replacement market. Every year, as many as 60-65 million feature phones are replaced. “Five years ago, when the JioPhone was launched, it cornered a 33% shipment market share. Assuming a similar market share, Jio Bharat could see 20-22 million devices being adopted by 2G users every year. Given that the implied ARPU of the current plans is ₹112, Jio could see a potential 3% accretion to its FY25 revenue/EBIDTA, due to this move,” said a report by Jefferies.

You Searched For "jiobharat phone" and got 5 results

Jio’s new launch could disrupt the 2G market say analysts

IANS

Will the newly launched JioBharat feature phone impact Airtel? Jefferies believes so

Anagh Pal

Reliance Jio Platforms Q2 net profit rises 3.9% QoQ to ₹5,297 crore

Katya Naidu

Sensex, Nifty back near all-time highs after morning dip

BI India Bureau

Jio Platforms’ Q1 PAT rises 2.3% QoQ with a flat growth in ARPU

Katya Naidu