Reliance Jio offers $10 phone to woo customers as Ambani fires latest salvo at rivals

MUMBAI (NewsRise) -- Billionaire Mukesh Ambani-backed Reliance Jio Infocomm's cut-rate festival offer for its internet-enabled phone is set to further hurt rivals Bharti Airtel and Vodafone Idea.

Jio, a subsidiary of Reliance Industries, on Tuesday said its JioPhone will be available at 699 rupees ($9.83) , more than half of its original price, during the ongoing festive season that ends with the Hindu festival of Diwali on Oct. 28.