Mumbai: Reliance Industries today said it has already pumped in close to Rs. 93,000 crore into its telecom venture under the Reliance Jio brand and will start selling 4G handsets under the Lyf brand from Diwali. “We’ve substantially completed our network expansion now having already completed 2.5 lakh route kilometers. We are on course to begin distribution of the handsets under the Lyf brand name from Diwali.
“We have already tied up with 1,200 primary distributors for this,” Reliance Jio president for devices Sunil Dutt told reporters here this evening.
Reliance Group deputy CFO V Srikanth said it has almost completed the capex by spending close to Rs. 93,000 crore so far. The company is likely to offer Lyf handsets with dual SIM facility and is expected to be available in the market from November.
Anshuman Thakur, head of business strategy development at Reliance Jio said, the company has tied up with five OEMs for handsets and the company will begin by offering 4G services through its own Lyf brand smartphones that will allow customers to make Internet-based calls.
He also said going forward the company will start manufacturing the handsets locally
Reliance chairman Mukesh Ambani in June had told the shareholders that the company would launch the much-awaited telecom services by December, offering high-speed data, digital commerce, media and payment services for about Rs. 300-500 per month, wherein it will sell smartphones at affordable rates of Rs. 4,000-5,000 apiece as well as high-end ones.