Archive for July, 2017

All You Need to Know about the New JioPhone

July 26, 2017

Reliance Jio recently launched a new feature phone on 21st July 2017. This phone is expected to cause a huge disruption in the country.

Disrupter in the telecom and feature phone markets

Jio has been known as a disrupter in the telecom market. It started with free offers, discounts, and competitive tariffs that made 4G Internet affordable in the country.

Now, its JioPhone may disrupt the feature phone market as it is expected to bring over 500 million feature phone users to Jio. The phone has effectively priced as free. Reliance Jio Chairman Mukesh Ambani revealed that the buyers of JioPhone will have to pay a deposit of INR 1,500 and this amount will be refundable. The phone is also packed with a number of smartphone-like features.

Features of JioPhone

Here are some of the features of JioPhone:

  • VoLTE

With the JioPhone, you may make high-definition (HD) voice calls. While most feature phones support only 2G networks, the JioPhone is the first feature phone to support 4G LTE and VoLTE. The VoLTE support in this phone lets you make voice calls using data packets.

  • Jio Apps

You will be able to access the Jio app suite with this phone. You may chat with friends and family using the JioChat app, which is an instant messaging app. The phone also supports music and video apps that let you access and play online videos and music. This is a huge addition in comparison to other feature phones.

  • Voice Commands

The phone supports voice commands. It lets you make calls, send text messages, and ask for audio and video playbacks via the Jio apps, through your voice.

  • Near Field Communication (NFC)

JioPhones are soon going to roll out a new feature in which you will be able to make online transactions via your bank account, Jan Dhan account, and the Jio money app.

  • Distress feature

JioPhone’s distress call feature may be activated by long pressing number 5 on the phone’s alphanumeric keypad. After this, the phone will send a distress message to selected contacts.

  • Screen Mirroring

JioPhone will come with a product known as a TV cable. This cable will connect the JioPhone to any TV set like LCDs, smart TVs, and CRTs. Through this, you will be able to mirror online videos running on your phone on the TV screen. This feature will work only if the user recharges with the INR 309 Jio Dhan Dhana Dhan plan.

Specifications of JioPhone

JioPhone has a 2.4-inch QVGA screen. It has an alphanumeric keypad and four-way navigation key. The phone has an FM radio, torch light, microSD card slot, and a camera. It is powered by a Qualcomm Snapdragon 205 processor.

About Reliance Jio

Mukesh Ambani led Reliance Jio is the telecom arm of Reliance Industries Limited (RIL). The company was launched in September 2016 and has since then seen rapid growth.

Summary

Reliance Jio has released a new feature phone called JioPhone. It has smartphone-like features and is expected to disrupt the feature phone market.

RIL Becomes the Most Honored Company while Jio Offers Discounts on its Smartphones

July 19, 2017

Mukesh Ambani’s Reliance Industries Limited (RIL) has added another recognition to its growing list of awards. The company was recently given the title of the Most Honored Company for 2017 in the oil and gas sector in Asia.

Institutional Investor Magazine survey

The survey was taken by Institutional Investor Magazine. The magazine took feedback from top fund managers and analysts from the buy side as well as the sell side. RIL’s Srikanth Venkatachari, the Joint Chief Financial Officer (CFO) and Alok Agarwal, the CFO of RIL were voted as the third best in the Best CFO category. Hemen Modi, the Head of Investor Relations at RIL was ranked as the second highest person in the Best Investor Relations Professional category.

About Institutional Investor Magazine

The Institutional Investor Magazine is a financial publication. The magazine has a global circulation of around 115,000 and publishes two editions—an American edition and an International edition. The magazine also offers propriety research, ranking, and a host of other important financial information.

About RIL

RIL is a conglomerate of a number of companies whose activities include petrochemicals, refinery, lifestyle products, telecommunications, and more. It is the largest private sector corporation in India. It is also a Fortune 500 company. The company was founded by Dhirubhai Ambani and its current chairman is Mukesh Ambani.

Apart from its oil and gas company, RIL’s telecom arm, Reliance Jio Infocomm is also doing well in the Indian telecom market.

Jio’s new plans

The new Jio Dhan Dhana Dhan plan announced by the telecom company is 33 percent costlier than the previous one. However, to save customers from disappointment, the company has decided to greatly decrease the prices of its LYF branded phones.

Prices of LYF phones

Mukesh Ambani led Reliance Jio has made its LYF smartphones cheaper by up to 60 percent. All LYF smartphones are 4G-enabled. Here is a list of how much the smartphones cost now and how much you will be able to save by buying them at a discounted price:

  • LYF F1 Black

Originally priced at INR 16,499, the phone now costs INR 9,499. This means that you will be able to save INR 7000 due to the 42 percent discount.

  • LYF F1S Black

Originally priced at INR 20,249, the phone now costs INR 9,499. This means that you will be able to save INR 10,750 due to the 53 percent discount.

  • LYF Water 1 White

This smartphone happens to be the best deal on the website. Originally priced at INR 17,399, the phone now costs INR 6,898. This means that you will be able to save INR 10,501 due to the 60 percent discount.

  • LYF Water 11 Gold

Originally priced at INR 11,699, the phone now costs INR 7,249. This means that you will be able to save INR 4,460.

There are discounts available on other smartphones, too on the official Jio and LYF websites.

Summary

Reliance Industries Limited (RIL) was recently awarded the title of the Most Honored Company by the Institutional Investor Magazine. Apart from this, its telecom arm, Reliance Jio is offering heavy discounts on its LYF branded smartphones.

Reliance Jio Introduces New Tariff Plans for Prime Members

July 12, 2017

With the Jio Dhan Dhana Dhan offer and the Jio Summer Surprise offer due to get over soon, Mukesh Ambani’s Reliance Jio, the telecom arm of Reliance Industries Limited (RIL) has introduced two new plans.

Jio’s two new plans

The two new plans of Reliance Jio are INR 349 and INR 399 introduced for Prime members. Following are the benefits customers will gain from them.

  • The INR 349 plan is valid for 56 days for prepaid subscribers and two months for postpaid subscribers. It offers 20 GB 4G data.
  • The INR 399 plan is valid for 84 days for prepaid subscribers offering 84 GB 4G data. It is valid for three months for postpaid subscribers and gives 90 GB 4G data.

Changes to Jio’s other existing plans

Along with the above, Jio is offering plans ranging from INR 19 to INR 9,999. It has also made changes to some of its existing plans:

  1. For Prepaid plans:
  • INR 309: It has increased the pack’s validity from 28 days to 56 days.
  • INR 509: It has increased the pack’s validity from 28 days to 56 days.
  • INR 999: It has increased the pack’s validity from 60 days to 90 days and data from 60 GB to 90 GB.
  • INR 1,999: It has increased the pack’s validity from 90 days to 120 days and data from 125 GB to 155 GB.
  • INR 4,999: It has increased the pack’s validity from 180 days to 210 days and data from 350 GB to 380 GB.
  • INR 9,999: It has increased the pack’s validity from 360 days to 390 days and data from 750 GB to 780 GB.
  1. For Postpaid plans:
  • INR 309: It has increased the pack’s validity from one month to two months.
  • INR 509: It has increased the pack’s validity from one month to two months.
  • INR 999: It has increased the pack’s validity from one month to two months and data from 60 GB to 90 GB.

Every Day More Value plans

The Every Day More Value (EDMV) plans are going to be introduced over and above the Prime exclusive plans. These plans are expected to provide around 20 percent more value to customers in comparison to the best plans of Jio’s competitors.

Other affordable plans

Jio is offering unlimited calls on all its packs. This includes even the INR 19 plan. Subscribers get 200 MB data with this pack. Other affordable plans of the company include INR 49, INR 96, and INR 149. These tariff plans are expected to spread the reach of Jio in rural areas as well.

Price war with rivals

Ever since Mukesh Ambani owned Jio entered the telecom market with its offers and low prices, rival telecom companies have had a tough time retaining subscribers. This has compelled them to cut down their tariffs, resulting in a price war in the telecom market.

Summary

Reliance Jio has introduced new plans of INR 349 and INR 399 for Prime users apart from making changes to its existing plans.

Reliance Jio Helps Companies Get GST-ready with its GST Kit

July 4, 2017

Mukesh Ambani led Reliance Industries Limited’s (RIL’s) telecom arm Reliance Jio has decided to help small and medium enterprises (SMEs) to get ready for GST with its starter kit.

What is the GST Suvidha Provider?

The GST starter kit, also known as the GST Suvidha Provider or GSP is available for INR 1,999. It comes with unlimited voice calling, 24 GB data for a year, a JioFi device and software solutions. In select cities, there will also be doorstep SIM activation for the JioFi device. The kit may be also bought on an EMI basis starting from INR 95.03.

The Retailers Association of India (RAI) has already joined hands with Jio to give the JioGST starter pack service to all its traders and merchants.

What software solution does the GST Kit contain?

The following software solutions are provided in the kit. They are meant to ease the processes of filing tax returns for GST and do not require a computer, printer, or any other accounting or billing software.

  • App-based GST solution

This platform is compatible with any type of billing software and may help SMEs file tax returns under GST.

  • Jio billing application

This can generate summary-wise invoices and has tax codes for a number of different products.

  • JioGST knowledge hub

This hub allows owners to use a special GST Chat channel on JioChat. It also lets them connect with tax experts through seminars, e-mails, and a lot more.

Value of the GST kit

While analyzing the differences between the market value offering for a GST software kit and Reliance Jio’s offering for a similar kit, the company made the following observations:

  • At market value, access to a GST filing software for one year would cost over INR 1,999.
  • At Reliance Jio’s price, the user would get complimentary premium access for the same.
  • At market value, the JioFi device would cost INR 1,999 while the data plan with unlimited voice calling and 2 GB monthly data would cost an additional INR 1,887. This would mean a total of INR 3,886. However, Jio offers the JioFi device and data plan for a total of INR 1,999.
  • Reliance Jio also offers complimentary premium access to the Jio Billing Application for one year. This would normally cost INR 4,999 at market value.
  • On totaling the cost of all the features, it is estimated that the software would cost approximately INR 10,884 at market value while Jio is offering the kit for INR 1,999.

Finding tax practitioners

With Mukesh Ambani led Reliance Jio’s JioGST starter kit, companies may get access to a number of empanelled tax practitioners. It lets the company find the tax practitioner nearest to it and authorize the practitioner to file returns on its behalf.

About GST

The Goods and Services Tax (GST) has been implemented by the Government of India from 1st July 2017. This new tax regime is known as the biggest tax reform since Independence. It has replaced the previous taxation system on all goods and services and is using a four-tier tax slab of 5 percent, 12 percent, 18 percent, and 28 percent.

Summary

Reliance Jio is offering companies a GST kit for INR 1,999 to help SMEs be GST-compliant.