JioPhone Next launch: Jefferies sees 10% revenue upside for Jio

Reliance Jio’s low cost smartphone, which is due for launch this Friday, could potentially impact Bharti Airtel’s revenue by 2-3 per cent in FY 2023, brokerage Jefferies said in its report on Tuesday.

The 4G-enabled smartphone, known as JioPhone Next, has been developed in partnership with Google and will be priced below Rs 5,000.  India has around 300 million customers using 2G services and Jio’s new smartphone is targeted to win over these customers.

Jefferies estimates an addressable market of 540 million consumers for JioPhone Next and upto 10 per cent revenue upside for Jio in FY 2023. Jio’s existing