Reliance industries is in advanced talks with Foxconn – the Taiwanese multinational electronics contract manufacturing company that makes iPhone and iPod, among other things – to make mobile phones in India under the ‘Make in India’ programme, and RIL’s telecom arm Reliance Jio Infocomm is looking to launch a $23-25 dual SIM phone soon, ETNow reported quoting sources.
The announcement on an alliance can come anytime.
The sources said the proposed mobile phone will have 2G and 4G slots and would cost Rs 1,625-2,200 apiece post taxes. The phone’s chip would be made by Shanghai-based semiconductor company Spreadtrum Communications.
According to ETNow, RIL may bundle the phone with attractive tariffs for 4G services. The company may make effective ownership attractive to investors through tariffs, handset discounts and phone exchange schemes.
The news came a day after RIL said its wholly-owned unit plans to raise Rs 200 billion through a rights issue of optionally convertible preference shares (OCPS) to shareholders.