The Rs 501 Monsoon Hungama package launched by Reliance Infocomm has created a hungama in the grey cellphone markets in Mumbai and Delhi.
Sales have dropped between 50 to 80 per cent, while prices of the handsets have gone down by 2 to 10 per cent over the last couple of days.
Dealers of handsets in the grey market are complaining that since July 1, when the scheme was launched, the steady stream of customers to their shops has suddenly reduced. The grey market has already been suffering for some time with the reduction in official prices.
Says a grey market dealer in the central suburb of Mumbai, where the impact has been the maximum:
