Reliance Jio’s Rs 699 phone offer may hit Airtel, Vodafone-Idea

Reliance Jio’s (RJio) move to drop entry-level phone price to Rs 699 and bundle it with data could hit incumbent operators, according to analysts.

“The offer clearly targets non-data/2G subscribers of Bharti Airtel and Vodafone Idea (VIL), which stand at 42 per cent and 52 per cent,(of their total user base) respectively. The move is negative for both Bharti and VIL, and historically VIL has been more susceptible to market share losses,” said a research report by Emkay.