JP Morgan report estimated that demand was soft in the Indian smartphone market in the second quarter 2017 compared to the year-ago period, given the lack of clarity around GST implementation. Also, the demand was impacted on account of the slower conversion of feature phone users to smartphone users. It “may remain in the same range, affected in the short-term by the launch of the Rs1,500 ($23) Reliance Jio feature phone”. The phone, targeted at 50 crore feature phone users in the country, will be available for pre-booking from 24 August on payment of a refundable security deposit of Rs1,500. “This is likely to appeal heavily to current feature phone users, who are primarily on the 2G network.

Source: Mint August 07, 2017 12:00 UTC