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  Business   Companies  04 Apr 2017  Reliance Jio to forego $800 mn for Summer Surprise

Reliance Jio to forego $800 mn for Summer Surprise

THE ASIAN AGE
Published : Apr 4, 2017, 10:52 am IST
Updated : Apr 4, 2017, 10:55 am IST

Jio has over 100 million users of which 72 million have already signed up for paid service Jio Prime for Rs 99.

RIL chairman Mukesh Ambani was instrumental in Jio's launch.
 RIL chairman Mukesh Ambani was instrumental in Jio's launch.

Mumbai: Reliance Jio that has disrupted India’s telecom market will go without $800 million revenue in extending three months’ free services under the latest ‘Summer Surprise’ plan.

Under Summer Surprise plan, a Jio user won't need any monthly recharges for three months or till July-end if they sign up for Prime membership before April 15 extended deadline and get a recharge of Rs 303 and above done before April 15.

The new entrant to the telecom market already has bagged a total customer base of over a 100 million subscribers that Jio achieved in only 170 days of launch of free services on September 5 last year.

Last week Reliance Industries’ chairman Mukesh Ambani revealed that as many as 72 million existing Jio users have signed up for Jio’s paid services with a membership fee of Rs 99. Ambani had also thanked Jio users in a letter for giving such a massive response to Jio Prime.

"Reliance Jio continues to defy conventional business logic, this time defying it by leaving nearly $800 million revenues on the table from the 72 million customers who have expressed their willingness to pay," a report in The Financial Express said.

Reliance Jio’s paid services include an annual membership fee of Rs 99 and different monthly recharges in the range of Rs 149 to Rs 303 for majority of customers.

Tags: reliance jio, reliance industries, jio prime, mukesh ambani, jio paid services
Location: India, Maharashtra, Mumbai (Bombay)