Jio Phone is free with refundable deposit of Rs.1,500: Mukesh Ambani

On the ocassion of his company Reliance Industries's 40th Annual General Meet (AGM), chairman Mukesh Ambani has announced the launch of "Jio Phone" which will be free of cost with refundable deposit of Rs 1,500. Mukesh added that he is committed to provide affordable data and devices, for which he is launching 4G LTE phones that supports all 24 Indian languages.

Announcing the launch of new affordable phones in the country, Mukesh said, "Jio phone to cost effectively



Rs 0 as against Rs 3-4.5k for a smartphone price. A full refundable deposit of Rs 1,500 to be paid for Jio phone to prevent misuse; money to be refunded after 36 months on the return of the phone. It will be available for pre-booking from Aug 24, all Jio phones will be made in India from last quarter." 

Mukesh also said that with the launch of his telecom venture Jio last year, India has overtaken US and China in mobile usage.