Jio Bharat could garner 100 mn users if RIL/Karbonn scale up production: BoFA

NEW DELHI: Jio Bharat internet-enabled phone could garner around 100 million users in the next two to three years in the event Reliance Industries Limited (RIL)/homegrown handset maker Karbonn are able to scale up the production of the affordable device, New York-based BoFA Securities said in a research note Wednesday.

“If RIL/Karbonn are able to scale up production of these phones, then we see the phone to have potential and could garner around 100mn users in next 2-3 years. We find both VIL & Bharti featurephones users vulnerable and see upside risks to Jio net adds,” said the brokerage.