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JioBharat captures 50% market share in sub-Rs 1,000 segment: Reliance annual report

By
Priya Prajapati
Last updated: August 27, 2024
10 Min Read
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JioBharat captures 50% market share in sub-Rs 1,000 segment: Reliance annual report

JioBharat is a challenger product specifically rolled out by Reliance Industries Limited, which is dominating the sub-₹1,000 jio bharat phone price segment with a 50% market share. In its annual report for 2024, the company stated that the product is a feature phone that allows for a smartphone experience.

Contents
  • The Birth of JioBharat: Bridging the Digital Divide
  • JioBharat’s Market Penetration: Capturing the Sub-₹1,000 Segment
  • Features that Set JioBharat Apart
  • JioBharat’s Role in a 2G-Mukt Bharat
  • Expanding the Digital Footprint: JioBharat and Beyond
  • Impact on the Telecom Industry and Competitors
  • The Road Ahead for JioBharat
  • Conclusion

JioBharat is now interchangeable with Digital India and the company’s objective is to turn India into a ‘2G only’ country. While addressing the Annual General Meeting meeting of Reliance Industries, Chairman Mukesh Ambani confirmed that the company will remain committed to solving the problem of digital connection asserting that each individual in India must connect to the digital platform.

This article defines the need for JioBharat in detail as well as how it disrupted the market and how the potential of Digital India can be reached.

The Birth of JioBharat: Bridging the Digital Divide

JioBharat was to offer internet connection service to everyone in India at a fast pace. India still has a large number of customers using feature phones, and at the time of writing this report, it was estimated that 250 million people were using them. JioBharat had a solution to this matter: offering the provision of 4G at a cheaper price.

In his letter to shareholders, Mukesh Ambani said, “The launch of Jio Bharat Phone is therefore another revolutionary step towards bridging the digital divide in India.

A smartphone at the jiobharat price of a feature phone is here to do what we promised, a “2G-free India” “ This ability to deliver broadband to millions of Indians who previously could not join the digital ecosystem due to hefty Jio Bharat phone features and price has resonated with millions of people.

JioBharat’s Market Penetration: Capturing the Sub-₹1,000 Segment

Just think, you are living in a world where you are not able to have problems with the internet connection. You cannot make video calls with your friends, or listen to new songs, and you cannot even shop online. In India, this was the case for many, especially those who did not have smartphones which they could use to access social media and the internet.

However, JioBharat wanted to alter this position. It is a phone that is very inexpensive, but it can access 4G Internet. That is, the versatile functions of this product include watching videos, listening to songs, and even browsing the Internet.

JioBharat captures 50% market share in sub-Rs 1,000 segment: Reliance annual report

Features that Set JioBharat Apart

JioBharat is an economical phone that has many features like that of a high-end phone. You can make payments through UPI, stream movies and shows through Jio Cinema, and watch Live TV through Jio TV. It is especially helpful that entertainment, connectivity, and financial services are in this one device.

In the last coupne of months, there has been a sign of many companies raising the price of their plans but not JioBharat. In this plan of 123 Rs per month, you receive data and smartphone functionalities. Even the most basic plans at the company cost ₹199 and they have only call and SMS services. This pricing strategy has made more people adopt JioBharat as their preferred choice.

JioBharat’s Role in a 2G-Mukt Bharat

JioBharat phone is created with the vision of freeing India from 2G. To date, the majority of individuals continue to use 2G handsets primarily because the jio Bharat phone cost and the data tariffs are still expensive. JioBharat has countered this problem as this phone is really inexpensive and therefore, people can easily access the digital platform.

Thus, the dream of Mukesh Ambani was created to ensure that no person in India remains deprived of having a digital life. JioBharat has provided internet connectivity to several people who use basic mobile phones for voice calls.

Which in return will boost social and economic growth since people will be in a position to afford information technologies, financial services, education and entertainment.

Expanding the Digital Footprint: JioBharat and Beyond

JioBharat is one more example of how Reliance can continue the new things and replace the old things. In the case of JioBharat, Reliance is not just marketing a product but providing a solution to a problem that has existed in India for over 45 years – inequality of digital access.

Their strategy is not only aimed at selling cheap phones as is the case with other companies. JioBharat is another good product from Reliance Jio through which it wishes to offer various services such as JioCinema, JioTV and digital payment services at very low rates.

The company recently announced the launch of the new JioMatki through Jio Bharat phone 5g to expand Jio True5G connectivity in many fields in India.

This is what Mukesh Ambani mentioned in his letter to the shareholders, wherein he stated that “Jio made data-poor India rich, connecting every Indian home with cheap and fast 4G data, and this year, Jio has further strengthened the country’s digital infrastructure by rolling out its True5G network in India in record time.” With devices such as the Jio Bharat and a rapidly growing network like True5G.

Impact on the Telecom Industry and Competitors

JioBharat has brought new opportunities for connectivity and has affected competitors. Feature phone manufacturers and telecom operators that used to have a lion’s share of the market had to shift strategy or lower the Jio Bharat phone 5g price to match this demand. Indeed, Bharat jio has Established a new benchmark in the market as many Jio Bharat phone features are available at a very cheap price.

This has put pressure on other companies offering similar products to also provide additional benefits with little extra cost.

As a result, there is an anticipation that this competition will introduce innovative ideas in the telecommunications sector. There are more opportunities to offer superior services and choices to customers.

This simply means that, if Jio Bharat sustains the growth of its subscribers, the complexion of the entire telecom value chain in India can change. This could result in more firms offering inexpensive smartphones to the market.

The Road Ahead for JioBharat

That’s wonderful news for the future of Jio Bharat! Another probable reason is an idea, which states that the company is somewhat innovative and strives to give the maximum level of satisfaction to users.

Therefore, soon, other new features and services are quite possible to be introduced to Jio Bharat as well. For instance, as the camera embedded in the phone becomes better, we can have more applications and digital services that are of added value.

Moreover, Jio is continuously adding more of its True 5G network. This will then be beneficial for the Jio Bharat users since they would be able to browse at an even faster pace and with more stability.

This will make everything that is done electronically such as online classes, e-shopping, and any related work easier. Therefore, each Jio Bharat user will be able to engage more with the online world.

Conclusion

That Jio Bharat is now in a position to grab 50% market share in the sub-Rs, 1000 smartphone segment is all due to Jio Bharat. This goes to show that Jio Bharat has found its way into the pocket of the common Indian public. In this way,

JioBharat has not only offered a price point for digital, but the new path to an equitable, and importantly more diverse, digital democracy. Mukesh Ambani had a dream of a country free from 2G connectivity, and with Jio Bharat at the helm, this vision is unfolding. For more details about Jio Bharat’s success story,cnbctv18 provides the detailed guide available.

The disruption caused by Jio Bharat, however, goes much deeper than mere share loss – it is about capturing an entirely new consumer base. It is a shift from exclusion to inclusion in the digital society and brings opportunities for hundreds of millions of people in India.

JioBharat will remain an ongoing effort towards digital India as Reliance strengthens its operations and types of services and products. If you want to know more about Jio updates and stay updated with all the recent happenings, here is a link to read more about Jio updates.

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