Online giant Google and Asia's richest man opened advance orders in India for an entry-level smartphone billed as the world's most affordable.
A shopkeeper poses with the new JioPhone Next smartphone in the Indian city of Ahmedabad.MUMBAI - Online giant Google and Asia's richest man Mukesh Ambani opened advance orders in India on Monday for an entry-level smartphone billed as the world's most affordable, joining the race to tap into the booming budget market.
The JioPhone Next will offer content in 10 Indian languages and has a price tag of 6,400 rupees , with customers able to put down an initial 1,999 rupees and the rest payable in instalments. But Emkay Global Financial Services analysts Naval Seth and Sonali Shah said in a note that the price tag was currently not yet"lucrative enough for masses".
"We believe that there is a possibility of it doing the same through various promotional schemes, if the sales are not up to expectations," they added.
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