BENGALURU -- India's richest man is betting he can sell the nation's thriftiest consumers on an internet-connected mobile phone at rock-bottom prices in a move that analysts say could cost rivals millions of subscribers.
Last week, billionaire Mukesh Ambani's telecom unit, Reliance Jio Infocomm, unveiled the 999 rupee ($12) Jio Bharat phone, preinstalled with the company's streaming and payment apps. Billed as the cheapest internet-enabled phone on the market, it will be bundled with a monthly 123 rupee fee for a 4G connection. That is 30% less than closest rival Airtel's cheapest plan, while offering seven times more data.
