MUMBAI: India’s richest man Mukesh Ambani said Friday that his telecoms venture Jio would launch a free smartphone, escalating a price war that is shaking up the country’s ultra-competitive mobile market.
The announcement, made at a boisterous Reliance Industries annual general meeting in Mumbai, sent shares in rival telecoms operator Bharti Airtel plummeting almost six percent.
“This breakthrough and revolutionary device named JioPhone, along with Jio’s disruptive tariff, will unleash the power of digital life in the hands of 1.3 billion citizens of the largest democracy in the world,” said Ambani.
The tycoon told shareholders and staff, who regularly burst into chants of “Jio, Jio, Jio,” that the phone, the latest entry into India’s crowded market, would be available from September.
He said customers would only have to pay a deposit of 1,500 rupees ($23.32) for the 4G-enabled device, which would be fully refundable after three years.
The announcement comes almost a year after Ambani launched the Reliance Jio 4G network with free voice calls for life and vastly cheaper data plans, forcing rivals to dramatically slash their tariffs.
Jio has signed up 125 million subscribers since its launch in September 2016, causing a rush to consolidation in the multi-billion-dollar sector as competitors scramble to match its deep pockets.
British mobile phone giant Vodafone is merging its Indian unit with Idea Cellular to help fend off Jio, which is backed by Reliance Industries — India’s immensely wealthy energy-to-chemicals conglomerate headed by Ambani.
Bharti Airtel and Idea Cellular have endured losses since Jio’s arrival and shares in the companies fell nearly three percent and six percent respectively following Ambani’s announcement Friday. Reliance rose three percent.
The news will have also been carefully watched by South Korean tech giant Samsung and Chinese mobile phone maker Xiaomi who possess the lion’s share of India’s smartphone market.
Samsung leads the market with 28 percent while nearly 14 percent of phones sold in India are made by Xiaomi, according to a study by the International Data Corporation, an IT research firm.
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India’s Ambani to launch free smartphone as he shakes up telecoms
India’s Ambani to launch free smartphone as he shakes up telecoms
French forces use tear gas to clear protesters protecting condemned cows
LES BORDES SURE ARIZE: Veterinarians arrived at a French farm Friday under police escort to slaughter a herd of cows suffering from a potentially deadly disease, an AFP reporter said, after police used tear gas to clear away angry protesters trying to protect the animals.
Farmers have staged protests in several parts of France in recent days, accusing the authorities of not doing enough to support them.
Hundreds of agricultural workers have demonstrated for two days outside the farm in the southern area of Ariege near the Spanish border.
They set up a cordon around the farm after the authorities on Wednesday said that more than 200 Blonde d’Aquitaine cows at the farm had nodular dermatitis — widely known as lumpy skin disease — and would have to be euthanized.
Gendarmes used tear gas late Thursday to fight their way past dozens of farmers who stayed after nightfall to blockade the farm in the village of Les Bordes-sur-Arize, while protesters hurled stones, branches and other makeshift missiles as hay bales burnt in the background.
Four people were arrested, Interior Minister Laurent Nunez said.
Several farmers and supporters had earlier chopped down trees and set up barricades to stop veterinary staff from entering to carry out the killing.
Regional prefect Herve Brabant said that the brothers who owned the farm had agreed to have the herd slaughtered in line with precautions against the disease.
But Pierre-Guillaume Mercadal, of the local Rural Confederation union leading the protest, said one brother had agreed and one was opposed.
“They are tearing this family apart,” he said.
- ‘In shock’ -
Marina Verge, 33, the daughter of one of the owners, on Wednesday told AFP that killing the cows amounted to destroying “almost 40 years” of their life’s work.
“They’re in shock, it’s unimaginable. They didn’t expect it,” she said.
“You don’t imagine finding yourself without livestock overnight.”
Other cases have also been detected in the region and some 3,000 of the 33,000 cattle in Ariege have already been vaccinated.
Lumpy skin disease, which cannot be passed to humans but can be fatal for cattle, first appeared in France in June. French authorities insist the outbreak is under control and that they are preparing a mass vaccination program.
The World Organization for Animal Health says that cases have also been reported in Italy this year.
According to the European Food Safety Authority, the disease is present in many African countries.
In 2012, it spread from the Middle East to Greece, Bulgaria and the Balkans. A vaccination program halted that epidemic.
Farmers have staged protests in several parts of France in recent days, accusing the authorities of not doing enough to support them.
Hundreds of agricultural workers have demonstrated for two days outside the farm in the southern area of Ariege near the Spanish border.
They set up a cordon around the farm after the authorities on Wednesday said that more than 200 Blonde d’Aquitaine cows at the farm had nodular dermatitis — widely known as lumpy skin disease — and would have to be euthanized.
Gendarmes used tear gas late Thursday to fight their way past dozens of farmers who stayed after nightfall to blockade the farm in the village of Les Bordes-sur-Arize, while protesters hurled stones, branches and other makeshift missiles as hay bales burnt in the background.
Four people were arrested, Interior Minister Laurent Nunez said.
Several farmers and supporters had earlier chopped down trees and set up barricades to stop veterinary staff from entering to carry out the killing.
Regional prefect Herve Brabant said that the brothers who owned the farm had agreed to have the herd slaughtered in line with precautions against the disease.
But Pierre-Guillaume Mercadal, of the local Rural Confederation union leading the protest, said one brother had agreed and one was opposed.
“They are tearing this family apart,” he said.
- ‘In shock’ -
Marina Verge, 33, the daughter of one of the owners, on Wednesday told AFP that killing the cows amounted to destroying “almost 40 years” of their life’s work.
“They’re in shock, it’s unimaginable. They didn’t expect it,” she said.
“You don’t imagine finding yourself without livestock overnight.”
Other cases have also been detected in the region and some 3,000 of the 33,000 cattle in Ariege have already been vaccinated.
Lumpy skin disease, which cannot be passed to humans but can be fatal for cattle, first appeared in France in June. French authorities insist the outbreak is under control and that they are preparing a mass vaccination program.
The World Organization for Animal Health says that cases have also been reported in Italy this year.
According to the European Food Safety Authority, the disease is present in many African countries.
In 2012, it spread from the Middle East to Greece, Bulgaria and the Balkans. A vaccination program halted that epidemic.
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