JioPhone Next at Rs 1,999: Here’s the fine print of Reliance Jio’s financing scheme

Reliance Jio has revealed the EMI options for its much-vaunted JioPhone Next smartphone, scheduled to release on Diwali. The company had touted the device as an affordable entry-level option and announced a ticket price of Rs 6,499 at launch.

The smartphone is available for an upfront fee of Rs 1,999 with multiple EMI options to choose from. However, while the prolonged financing with data and call benefits might reduce the overall cost of ownership for light users, heavy data users looking for a cheaper alternative to the smartphones already available in the market would inevitably end up paying more.

Reliance Jio is offering four financing plans for the JioPhone Next with different sets of benefits. On top of that, it will also charge a financing fee of Rs 501.

Always-on plan: After an upfront payment of Rs 1,999, buyers can choose between paying Rs 300 for 24 months or Rs 350 for 18 months. The plan includes 5GB of data and 100 minutes of free calling a month. At the end of the plan period, however, the buyer will have shelled out Rs 8,800 for the 18-month option and Rs 9,700 for the 24-month option, including the processing fee and the upfront payment.

Large Plan: The plan offers the choice of Rs 450 per month for 24 months or Rs 500 for 18 months for 1.5GB daily data and unlimited voice calls. At the end of the financing period, the cost of ownership will hit Rs 13,300 for the 24-month option and Rs 11,500 for the 18-month option.

XL Plan: Users will get 2GB data a day with unlimited voice calling for Rs 500 for 24 months or Rs 550 for 18 months. The overall cost of ownership for this plan comes to around Rs 14,500 for the 24-month option and Rs 12,400 for the 18-month option.

XXL Plan: Choosing this plan will entail a payment of Rs 550 a month for 24 months or Rs 600 per month for 18 months for 2.5GB daily data and unlimited calling. The total cost of the plan is pegged at Rs 15,700 for the 24-month option and Rs 13,300 for the 18-month option.

The JioPhone Next will hit JioMart Digital retail stores across the country starting Diwali. The Made in India smartphone, developed in partnership with Google, runs the indigenous Pragati OS, an optimised Android version. The OS will enable access to Play Store apps over the air updates.

Speaking at the price reveal, Reliance Industries Chairman and Managing Director Mukesh Ambani expressed his delight at Google and Jio’s success in bringing the device to Indian consumers ahead of the festival season despite Covid-induced global supply chain challenges.

Ambani said he had always believed in the power of Digital Revolution to enrich, enable and empower 1.35 billion Indians. He added that Jio had done it in the past with connectivity, and was now enabling it with a smartphone.

Google and Alphabet CEO Sundar Pichai said the JioPhone Next, designed to be an affordable smartphone for Indians, was inspired by the belief that every Indian should benefit from the opportunities that the Internet creates.

He added the teams had to collaborate to solve complex engineering and design challenges.