Jio eyes large addressable market of 540 million mobile users with the JioPhone Next

NEW DELHI: Reliance Jio is targeting a “large addressable market” of around 540 million, including around featurephone, current JioPhone and smartphone users with devices priced under $100 branded JioPhone Next, brokerage Jefferies said in a note.

The brokerage said that at current tariff plans, upgrades by basic JioPhone users to JioPhone Next could boost Jio’s FY23 revenue estimates by up to 10%, while for Bharti Airtel, churn among smartphone users could hurt its India-mobile FY23 revenue estimates by 2-3%.

Reliance Jio has 12-72% higher tariffs for smartphone users as compared to JioPhone users.